Examlex
Multiply using the rule for finding the product of the sum and difference of two terms.
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Salaries Payable
A liability account that records the amounts of wages earned by employees that have not yet been paid to them.
Salaries Expense
An accounting item that represents the total amount paid to employees in the form of salaries over a specific period of time.
Adjusting Entry
A journal entry made in accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.
Prepaid Insurance
An asset account that represents insurance payments made in advance for future coverage periods.
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