Which of the following accounts would likely be included in a deferral adjusting entry?
A) Interest Revenue
B) Unearned Revenue
C) Salaries Payable
D) Accounts Receivable

Question

Quizplus · Accepted Answer

Deferral adjusting entries involve recognizing revenue or expenses that were previously deferred. Unearned revenue is a liability account that represents revenue that has been received but has not yet been earned. Therefore, if there is unearned revenue at the end of an accounting period, it will be included in a deferral adjusting entry to recognize the revenue that has been earned during that period. The other accounts listed do not relate to deferral adjusting entries.

Which of the Following Accounts Would Likely Be Included in a Deferral