M1 Definition

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M1 is the narrowest measure of the U.S. money supply; includes currency in circulation plus demand deposits (checking account balances).

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ACCOUNT is the detailed record of a particular asset, liability, owners equity, revenue or expense.

SUBLEDGER is for the purpose of organizing revenue and expense transaction for only one account, e.g., For an individual salesperson, like a general ledger, the subledger has different default account types, each from a salespersons perspective, not a company perspective. Thus, Due is due to the salesperson and Payable is payable by the salesperson.

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