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In the following reaction: NH4+ (aq) + H2O (aq) → NH3 (aq) + H3O+ (aq)
Adjusting Entries
Bookkeeping entries recorded at the close of a fiscal period to assign earnings and outlays to the timeframe in which they happened.
Adjusting Entries
Accounting records created during a period's close to distribute revenues and expenses to their rightful temporal occurrences.
Cash
Money in the form of currency that can include bank notes and coins, available for transactions or savings.
Income Summary
The Income Summary is an account where revenues and expenses are compiled to show the net result of a company's operations for a particular period.
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