Question
Asked Nov 25, 2019
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Define the following terms?

1.) Sundry expenses.

2.) Accrued interest.

3.) Credit balance.

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Expert Answer

Step 1
  1. Sundry expenses: Sundry expenses are expenditures incurred by company which is generally of small value or relatively unimportant to be mentioned individually in the separate ledger account.
Step 2

 2. Accrued interest: Accrued interest is the outstanding interest expense in the a...

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