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Adjusting Entries
Entries made in the accounting records at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.
Merchandising Company
A company that purchases goods ready for sale and sells them to customers, typically involved in retail or wholesale trade.
Service Company
A business that provides intangible products or services to consumers, rather than physical goods.
FOB Destination
A shipping term where the seller is responsible for the transportation costs and risks until the goods reach the buyer's specified location.
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