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Jinsey Dowling
on Nov 12, 2024

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Examples of temporary accounts are supplies and prepaid expenses which are in the ledger for just a short time before they expire.

Temporary Accounts

Accounts used to collect information during a single accounting period, which are reset by transferring the balance to a permanent account at the period's end.

Prepaid Expenses

Items such as supplies that will be used in the business in the future.

  • Comprehend the various categories of asset accounts and their classification.
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Shane SweeneyNov 13, 2024
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