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Why do services tend to be more labor-intensive than manufacturing?
Rent Receivable
An account in the balance sheet that represents the amount of rental payments owed to a property owner but not yet received.
Adjusting Entry
A journal entry made in the accounting records at the end of an accounting period to allocate income and expenditure to the appropriate period.
Interest Payable
A liability account on a company's balance sheet representing the amount of interest expense that has been incurred but not yet paid.
Adjusting Entry
A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period for a more accurate financial report.
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