Salaries of Employees the Following Data Represent the Yearly Salaries

question 98

Essay

Salaries of Employees The following data represent the yearly salaries (in thousands of dollars)of a sample of 13 employees of a firm: 26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and 28.2. {Salaries of Employees Narrative} Compute the median salary.

---

Definitions:

Accounts Receivable

Represents money owed by customers to a company in exchange for goods or services that have been delivered but not yet paid for.

Accounts Payable

Money owed by a business to its suppliers shown as a liability on the company's balance sheet.

Prepaid Expense

Payments made in advance for goods or services to be received in the future, recorded as an asset on the balance sheet until the expense is incurred.

Interest Revenue

Income earned from the lending of money or from investments in interest-bearing accounts.