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TABLE 8-5
A sample of salary offers (in thousands of dollars) given to management majors is: 48, 51, 46, 52, 47, 48, 47, 50, 51, and 59. Using this data to obtain a 95% confidence interval resulted in an interval from 47.19 to 52.61.
-Referring to Table 8-5, 95% of the salary offers are between 47.19 and 52.61.
Journal
An official financial record in which transactions are recorded in chronological order before they are transferred to accounts in the general ledger.
Ledger Accounts
Records that reflect the financial transactions of a company, organized within a book or a computerized accounting system.
Bank Loan Payable
Bank loan payable is a liability account that reflects the amount of money borrowed from a bank by a company or individual that is yet to be repaid.
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