Which of the following is created by the adjusting entry to recognize interest expense incurred but not yet paid?
A) Prepaid interest.
B) Unearned revenue.
C) Interest revenue.
D) Interest expense.
E) Notes payablE.

Question

Quizplus · Accepted Answer

The adjusting entry for interest expense recognizes the expense incurred but not yet paid. This is done by debiting interest expense and crediting accrued interest payable.

Which of the Following Is Created by the Adjusting Entry