An adjustment is made for an expense incurred prior to its payment. The adjustment is called a(n):

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An accrued expense is an expense that has been incurred but not yet paid. It is typically recorded as an adjusting entry at the end of an accounting period to ensure that the expense is properly recognized in the period in which it was incurred. Examples of accrued expenses include salaries and wages, interest expense, and rent expense. Choices B, C, and D do not apply to this scenario, as they relate to other types of adjustments.

An Adjustment Is Made for an Expense Incurred Prior to Its