Homework Answers
Right answer is (a)
| Interest Expense |
| Interest Payable |
Explanation:
Accrued interest expenses mean which already incurred but not paid during the period. actual expense of the current year but will be paid in next year.
so as a expense of current year debited to interest expenses and this expense not paid so as a liabilities credited to Interest Payable.
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with of the following journal entries accrues interest expense? 20. Which of the followin a. Interest...
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8. On 12/31/12, as part of the year-end adjusting journal entries, the Strickland Company accrues three...
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