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Nominal Accounts Merchandising Cost Principle Time Period Adjusted Trial Balance Matching Principle Closing Process Revenue Recognition Principle Accrual basis Accounting Equation Princetary Unit Real Accounts Sales Transactions Monetary Assumption Fiscal Year Trial Balance Assumption Going Concern Accrued Perpetual Inventory T Account Chart of Accounts Economic Ent Assumption Entity Adjusting Entries Revenues DEBITS Closing Entries Ledger Financial Statements CREDITS Expenses Cash basis Deferred Expenses Accounts Deferred Revenues 0.00 14:00