Question

An adjusting entry for accrued expenses involves: (Select all that apply.) debit to an expense credit to an expense credit to a liability debit to a liability debit to an asset credit to a revenue\

Answer 1

Answer:

Explanation:

The journal entry to record the accrued expense is shown below:

Example:

Wages expenses A/c Dr XXXXX

         To wages payable A/c XXXXX

(Being the accrued expenses is recorded)

While recording the wages expenses, we debited the accrued expenses as it increases the expenses account and credited the wages payable account as the liabilities account is also increased