An accrued expense is an expense that has been incurred, but has not yet been paid...
An accrued expense is an expense that has been incurred, but has not yet been paid
yes or no ?
Homework Answers
Answer
--Yes, the statement is Correct.
--Accrued expenses are the expenses, that have been incurred BUT are not yet paid in cash.
--For example, interest accrued on a note for a period to be paid at maturity is an accrued interest expense.
--accrued expenses are recorded by debiting the expense and crediting the respective liability account.
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An accrued expense is an expense that has been incurred, but has
not yet been paid...
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