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If DNA is likened to a ladder, what are the compounds that make up the sides of the ladder?
Accrued Revenue
Revenue earned but not yet received or recorded at the end of an accounting period.
Fees Earned
Revenue generated from services provided by a business during a specific period.
Accounts Receivable
This refers to the money owed to a company by its customers for goods or services that have been delivered but not yet paid for.
Contra Expense Account
An account that is offset against an expense account on the income statement, effectively reducing the total expense reported.
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