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Accounting, Finance, SPSS
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English (U.S.)
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The balance sheet and income statement Accounting, Finance Coursework

Coursework Instructions:

Identify and define one account that would typically be found on a balance sheet and one account that would typically be found on an income statement. Cite any references used. I only need 150 words.

Coursework Sample Content Preview:

The Balance Sheet and Income Statement
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The Balance Sheet and Income Statement
All balance sheet accounts are either general ledger or income statement accounts. One of the common account in a balance sheet is an account receivable. In particular, when a business sells products or services to its clients and allow them to pay at a later date, it creates an account receivable (Weetman, 2019). For this reason, customers can order commodities when they do not have money since they can pay afterwards at an agreed time. For example, they might pay after selling goods. Consequently, accounts receivable is the total amount of money that individuals owe a specific business.
Income statement accounts involve transactions, such as operating expenses, operating revenues, non-operating ...
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