Which of the following would cause a liability to be credited and an expense to be debited?
A) Recording the adjustment for the expiration of rent
B) Recording the depreciation of equipment
C) Recording the accrual of salaries incurred
D) Purchasing equipment

Question

Quizplus · Accepted Answer

Recording the accrual of salaries incurred involves crediting a liability account (Salaries Payable) to recognize the obligation to pay employees and debiting an expense account (Salaries Expense) to recognize the cost of employee services incurred during the period.

Which of the Following Would Cause a Liability to Be