Accounting - Chapter 21
Record the reversing entry for accrued revenue.
Record an entry to receive payment on a note receivable with accrued interest.
Calculate accrued interest expense.
Record the adjusting entry for an accrued expense.
Record the reversing entry for an accrued expense.
Record an entry to pay an installment on a note payable with accrued interest.
Record an entry to receive cash on deferred revenue.
Calculate the amount and record the entry for deferred revenue when earned.
Record an entry to pay cash on a deferred expense.
Calculate the amount and record the entry for a deferred expense when incurred.
Accounting for Accruals, Deferrals, and Reversing Entries
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Think Like An Accountant