Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 40 - No. 20)
When a company accrues an expense, which accounts are affected?
Cash and expense account.
An expense account and accounts payable.
An expense account and cash.
Accounts receivable and revenue account.
Explanation
Accrued expense entries effect an expense account (debit) and a liability (credit).
Comments (0)
