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Wages Expense
The total cost incurred by a company for the compensation of its employees, excluding benefits and bonuses.
Wages Payable
A liability account that records the amounts owed to employees for work that has been performed but not yet paid.
Biweekly Salaries
Compensation paid to employees on a two-week basis, typically resulting in 26 pay periods per year.
Fiscal Period
A specific time frame, such as a month, quarter, or year, used for financial accounting and reporting purposes.
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