Asked by
Angelina Hourn
on Nov 18, 2024Verified
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 recording the total amount paid to employees for services rendered during a specific period, before any deductions.
Credit Entries
Entries made in the accounting records that increase liabilities or decrease assets.
- Pinpoint the traits and regular balances of various kinds of accounts, encompassing assets, liabilities, equity, revenue, and expenses.
Verified Answer
SS
Learning Objectives
- Pinpoint the traits and regular balances of various kinds of accounts, encompassing assets, liabilities, equity, revenue, and expenses.
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