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The chart of accounts for Samuel's Trucking Company is as follows:
Samuel's trucking Company completed the following transactions in October:
Instructions:
Journalize the transactions for October using quality format in the journal and post to appropriate ledger accounts.
Wages And Salaries
Compensation paid to employees for their services, where wages are often hourly rates and salaries are fixed annual amounts.
Planning Budget
A financial plan for the future which outlines projected income and expenditures during a specific period.
Net Operating Income
The profit generated from a company's regular business operations, excluding deductions for interest and taxes.
Flexible Budget
A flexible budget that varies according to activity or volume changes.
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