Match the following types of adjusting entries to the listed situation. (Choices may be used more than once.)
-The employee salaries has been incurred, but not paid at the end of the accounting period

Question

Quizplus · Accepted Answer

The situation described is an example of an accrued expense. The expense (employee salaries) has been incurred but not yet paid, so an adjusting entry is needed to record that expense in the period it was incurred.

Match the Following Types of Adjusting Entries to the Listed