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Chapter 18 Vocab

Acct 2

AB
adjusting entriesjournal entries that update the general ledger accounts at the end of a point
adjustmentan amount that is added to or subtracted from an account balance to bring that balance up to date
beginning inventorythe merchandise a business has on hand at the beginning of a period
ending inventorythe merchandise a business has no hand at the end of a period
physical inventoryan actual count of all merchandise on hand and available for sale
prepaid expensean expense paid in advance


Teacher
Coral Springs Charter School
Coral Springs, FL

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