CH 11, LO 1 and 2

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Across
  1. 4. debts that are owed to creditors
  2. 6. when a business has received cash vefore providing goods or performing work
  3. 7. must be paid with cash or goods/services within one year
  4. 9. a written promise by a business to pay a debt wwithin one year or less
  5. 10. the income tax deducted from gross pay
  6. 13. medical benefits
Down
  1. 1. old age, survivors, and disability insurance
  2. 2. do not need to be paid within one year
  3. 3. helps summarize the earnings, withholdings, and net pay for each employee
  4. 5. also known as the Social Security Act, created the Social Security tax
  5. 8. total amount of salary, wages, commissions, and bonuses earned by an employee during a pay period
  6. 11. also called employee compensation
  7. 12. the amount an employee gets to keep