Examlex
In the diagram,the number 2 corresponds to the:
Credit Sales
Sales made on credit, allowing customers to purchase goods or services and pay for them at a later date.
Loss from Sale
An unfavorable difference between the selling price of an asset and its book value, leading to a financial loss for the entity.
Assets
Resources owned or controlled by a business, expected to bring future economic benefits.
Liabilities
Liabilities or monetary duties a firm has towards outside entities.
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