An adjusting entry that credits Salaries payable is an example of a(n):
A) accrued expense.
B) unearned revenue.
C) accrued revenue.
D) prepaid expense.

Question

Quizplus · Accepted Answer

Accrued expenses are expenses that have been incurred but not yet paid. An adjusting entry that credits Salaries payable indicates that the company has incurred these expenses but has not yet paid them, making it an example of an accrued expense.

An Adjusting Entry That Credits Salaries Payable Is an Example