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Today's lesson focuses on data age analysis, particularly in terms of understanding what is meant by aging. Aging refers to how long it takes for people who owe money to pay it back. Most businesses use a 30-day period to track aging. For example, if today is July 1st and goods are bought throughout July, a statement is prepared at the end of the month summarizing all credit invoices. This statement indicates the total amount owed by the end of the month.
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