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Correction Journal Entry
A correction journal entry is used to amend errors or omissions in the financial accounting records of a business.
Ledger Accounts
Records that summarize transactions related to a specific asset, liability, equity, revenue, or expense, forming the backbone of the double-entry bookkeeping system.
Journal Entries
Records of the financial transactions of a business that are entered into its accounting system.
Posting
The process of recording financial transactions in the ledger of a business.
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