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A1C21

Accounting 1 Chapter 21

TermDefinition
accrued expenses expenses incurred in one fiscal period but not paid until a later fiscal period
accrued interest expense interest incurred but not yet paid
accrued interest income interest earned but not yet received
accrued revenue revenue earned in one fiscal period but not received until a later fiscal period
intellectual property any product that is protected by patents, trademarks, and copyrights
reversing entry an entry made at the beginning of one fiscal period to reverse an adjusting entry made in the previous fiscal period
Created by: mrs226
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