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Over both years
Salary Expense
The total amount paid by a business to its employees for the work done over a specific period, often monthly or annually.
Adjusting Entry
A journal entry made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.
Current-Year Net Income
Current-Year Net Income is the total profit or earnings of a company for the ongoing fiscal year, after subtracting all expenses, taxes, and costs.
Accrued Salaries
Wages that have been earned by employees but have not yet been paid by the employer.
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