Examlex
Instructors often give clues about what is most important and should be noted by students.
Salary Owed
The amount of money that an employer is required to pay to an employee for work performed, which has not yet been paid at the statement date.
Unearned Gym Memberships
Income received by a gym or fitness center from memberships that have been paid for but not yet fully utilized, considered a liability until the services are rendered.
Gym Memberships Revenue
Income received from customers for granting access and use of a gym's facilities.
Adjusting Journal Entry
An entry made in the books at the end of an accounting period to allocate income and expenditure to the correct period.
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