9.  An entry that results in a debit to an expense account and a credit to a related liability account is an example of which category of adjusting entries?

Question

9.  An entry that results in a debit to an expense account and a credit to a related liability account is an example of which category of adjusting entries?
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Solution 1

The entry you're referring to is an example of an Accrued Expense.

Here's the step-by-step explanation:

  1. Accrued expenses are expenses that have been incurred but not yet paid.

  2. When an expense is recognized before it is paid, a liability is created. This liability represents the amount owe Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob

Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

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