Answered

Prior to the adjusting process, accrued expenses have:

A) not yet been incurred, paid, or recorded

B) been incurred, not paid, but have been recorded

C) been incurred, not paid, and not recorded

D) been paid but have not yet been incurred

Answer :

Answer:

C) been incurred, not paid, and not recorded

Explanation:

The accrued expense is an expense that is incurred but not paid and even recorded before passing the adjusting entries

The following adjusting entry is

Salaries and wages expense A/c XXXXX

        To  Salaries and wages payable A/c XXXXX

(Being the salaries and wages expense is recorded

It can be for salaries & wages payable, interest payable, etc

   

Other Questions