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Provide the reagents necessary to complete the following transformation.
Prepaid Expenses
Payments made in advance for goods or services to be received in the future, considered an asset on the balance sheet until utilized.
Owner's Equity
The residual interest in the assets of the entity after deducting liabilities, representing the ownership's value in the business.
Major Account Groups
Categories used in financial accounting to organize and summarize the financial activities of a business.
Owner's Equity
The residual interest in the assets of a business after deducting liabilities, representing the owner's claim against the company assets.
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