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Current compensation is usually comprised of salary,wages,and bonuses.
Journalizing
The process of recording transactions in the journal in chronological order, marking the first step in the accounting cycle.
Posting
The process of transferring journal entries to their respective accounts in the ledger.
Balancing
The act of ensuring that two sets of records (usually the credits and debits in an account) are in agreement.
Fees Earned
Income received for services provided by a company or individual, usually professional services such as legal, consulting, or accounting services.
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