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On January 8, Gallery Corp. records $5,000 of accrued salaries. On January 15, $10,000 of salaries are paid. The entry on January 15 includes a debit to the Salaries Payable account.
Commerce Bank
A financial institution providing banking services, such as deposits, loans, and other financial products to individuals and businesses.
Assignee
An individual or entity to whom rights or interests are transferred by another, known as the assignor.
Notice
Formal communication or announcement necessarily made to inform a party of certain legal processes or actions.
Assigned Benefits
The transfer of the right to receive benefits from a policy or agreement, such as insurance, from the original beneficiary to another party.
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