Match the following types of adjustments with the appropriate transactions.
-Accrued expense
A)Used to record wages owed, but not yet paid.
B)Used to record revenue earned for which cash was received in advance.
C)Used to record revenue earned for which cash has not been received.
D)Used to record expiration or use of prepaid insurance.

Question

Quizplus · Accepted Answer

Accrued expenses are expenses that have been incurred but not yet paid, making option A (used to record wages owed, but not yet paid) the correct match.

Match the Following Types of Adjustments with the Appropriate Transactions