Which of the following is not considered an end-of-period adjusting entry?
A)The entry to record the portion of unexpired insurance which has become expense during the period.
B)An entry to record revenue that has been earned but has not yet been billed to customers.
C)The entry to record depreciation expense.
D)An entry to record repayment of a bank loan and to recognize related interest expense.

Question

Quizplus · Accepted Answer

Repayment of a bank loan and recognition of interest expense is not an end-of-period adjusting entry as it is considered a normal transaction and is recorded in the general journal. The other options are examples of adjusting entries commonly made at the end of an accounting period.

Which of the Following Is Not Considered an End-Of-Period Adjusting