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rachel poluakan
on Nov 12, 2024

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For a month's transactions for a typical medium-sized business, the salary expense account is likely to have only credit entries.

Salary Expense Account

An account that tracks the total amount paid to employees for services rendered during a specific period.

Credit Entries

Accounting entries that increase liabilities or decrease assets, typically reflecting incoming payments or the granting of credit to a customer.

Transactions

Financial activities or events that affect the financial position of the company.

  • Understand the impact of transactions on expense accounts.
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TN
Tanaka NormanNov 16, 2024
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