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Special Journals
Accounting journals designed for recording a particular type of transaction in a more efficient manner.
Cash Payments Journal
A specialized accounting journal used to record all cash outlays of a business, including expenses, asset purchases, and debt payments.
Purchases Journal
A record of all purchase transactions for inventory, usually on credit, maintained by a business.
Credit Balance
A situation in accounting where the total credits in an account exceed the total debits, commonly seen in liability accounts.
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