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If
Adjusting Entry
A journal entry made in the accounting records at the end of an accounting period to allocate income and expenses to the correct periods.
Unearned Revenue
Money received by a company for a service or product that has yet to be delivered or provided.
Deferred Revenue
Income received by a company for goods or services yet to be delivered or performed, recorded as a liability on the balance sheet until the goods or services are provided.
Receipt of Cash
This refers to the actual inflow of cash into a business, resulting from transactions such as cash sales, receiving payment from debtors, or any other cash receipts.
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