Examlex
Expanding the number of possible solutions to a problem illustrates
Closing Entry
Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thus preparing the books for the next period.
Reversing Entry
An accounting entry made at the beginning of a period to reverse the effects of certain adjustments made in the previous period.
Salary Expense
The cost incurred by a business to pay its employees.
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