CLOSING DATE Definition

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CLOSING DATE is the date the purchase of the asset becomes final and you, the new owner, obtain title.

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ACCOUNTS RECEIVABLE LEDGER is the bookkeeping ledger in which all accounts for which cash assets owed to an organization is maintained.

SINKING FUND is a sum set apart periodically from the income of a government or a business and allowed to accumulate in order ultimately to pay off a debt. A preferred investment for a sinking fund is the purchase of the governments or firms bonds that are to be paid off. Usually the fund is administered by a trustee.

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