Accounting II

Accounting - Chapter 21

Chapter Objectives

  • 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

Chapter 21 PowerPoint

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Chapter 21 Quizlet

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Mastery Problem

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Think Like An Accountant

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