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When an outside person hears both sides of a conflict and makes a specific decision about how things should proceed, the process is called _____.
Special Journals
Journals that record similar types of transactions, such as all credit sales.
Sales Returns
Goods returned by customers after purchase, reducing the total sales revenue.
Cash Payments Journal
An accounting ledger that tracks all cash payments made by a business, including expenses, debt payments, and purchases.
Control Account
A general ledger account that summarizes and controls the detailed data recorded in subordinate ledger accounts.
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