Answer the Following Accounting questions for me
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- What is the difference between a nominal account and a real account?
- What is the difference between adjusting entries and correcting entries?
- What is the difference between revenues and receipts?
- What is a credit balance?
- What is a debit balance?
- What is a journal entry?
- What are sales?
- What is a trial balance?
- What is the income summary account?
- Can you help me understand the golden rules of accounting?
- What are some tips to make learning debits and credits easy?
- Why are revenues credited?
- Why are expenses debited?
- What is a memorandum entry?
- Why will some asset accounts have a credit balance?
- What is a recurring journal entry?
- What is a contra account?