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Changes in accounting estimates are accounted for in current and future periods.
Cash Register
A mechanical or electronic device for calculating and recording sales transactions, and an attached drawer for storing cash.
Cash Sales
Transactions where the payment for goods or services is made immediately in cash, without extending credit.
Cash Register Total
The sum amount of cash transactions recorded by a cash register within a certain time period.
Journalize
The process of recording financial transactions in a company’s journal, marking the first step in the accounting cycle.
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