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If you regularly spend $100 a month on gasoline and the price of gasoline doubles, your purchasing power has
Normal Balance
The side (debit or credit) of an account that is expected to have a higher balance based on the account type.
Service Revenue
Income earned by a company through the provision of services to customers, as opposed to selling goods.
Rent Expense
The cost incurred by a business or individual for leasing a property or space.
General Ledger
A comprehensive set of accounts that records all financial transactions of a business, showing assets, liabilities, equity, revenue, and expenses.
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