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When calculating the amount owed on an invoice, what are the 4 items that you...

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Accounting

  1. When calculating the amount owed on an invoice, what are the 4 items that you need to consider? (Answering this question in a list format is fine.)
  2. What is the difference between the closing entry process for a service business (Ch. 4) versus the closing process for a retail business (Ch. 5)?

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