Match each of the following current liabilities with its meaning.
-An accrued liability that represents the cost of borrowing.
A)Account payable
B)Note payable
C)Wages payable
D)Interest payable
E)Sales taxes payable
F)FICA taxes payable
G)Unemployment taxes payable
H)Unearned sales revenues
I)Estimated warranty liability

Question

Quizplus · Accepted Answer

Interest payable represents the cost of borrowing and is accrued over time as the loan or debt remains outstanding.

Match Each of the Following Current Liabilities with Its Meaning