Sales journal entry definition
The special journal, where the credit sale returns are recorded, is called a sales return journal. The sales return journal is prepared from debit notes sent by the buyer with returned goods. At the end of the month, we...
What Is Amortization? How It Works for Loans and Assets
During the loan period, only a small portion of the principal sum is amortized. So, at the end of the loan period, the final, huge balloon payment is made. That being said, the way this amortization method works is...
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