DEFERRED ASSET is an amount owed to an entity that is not expected to be received by that entity within one year from the date of the balance sheet.
GROSS is: a. the entire amount of income before any deductions are made; or, b. any total amount before any deductions (examples: gross income or gross labor).
MEMOS written records supporting journal entries. Credit memos support credits, while debit memos support debit entries. See Memo Entry.
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