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A boxcar without a front or a back is moving toward the right.Two flashes of light move through the boxcar,one moving from back to front toward the right,the other moving from front to back toward the left.A passenger in the boxcar records how long it takes each flash of light to pass from one end of the boxcar to the other end.According to the passenger,which took longer?
Adjusting Entry
A journal entry made in accounting records to correct or allocate revenues and expenses to the appropriate period.
Wages Expense
This is the total amount of wages a company pays to its employees, which is considered an expense on the income statement.
Accrued Wages
Refers to wages earned by employees but not yet paid by the employer.
Reversing Entry
An accounting entry that is made at the beginning of an accounting period to reverse or cancel out adjusting entries made at the end of the previous period.
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