The adjusting entry to accrue Interest Expense results in:
A)an increase in Interest Expense.
B)a decrease in Interest Expense.
C)a decrease in Cash.
D)a decrease in Interest Payable.

Question

Quizplus · Accepted Answer

An adjusting entry to accrue interest expense increases the Interest Expense account to reflect the cost incurred during the period, even though it has not yet been paid.

The Adjusting Entry to Accrue Interest Expense Results In