An adjusting entry that credits Salaries Payable is an example of a(n):
A. accrued expense.
B. unearned revenue.
C. accrued revenue.
D. prepaid expense.
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An expense that has been incurred but not yet paid is called a(n):
A. accrued revenue.
B. prepaid expense.
C. unearned revenue.
D. accrued expense.
Revenue that has been earned but not yet collected in cash is called a(n):
A. accrued revenue.
B. prepaid expense.
C. unearned revenue.
D. accrued expense.
The advance cash receipts of future revenues are called:
A. accrued revenues.
B. prepaid expenses.
C. unearned revenues.
D. accrued expenses.
The advance cash payments of future expenses are called:
A. accrued revenues.
B. prepaid expenses.
C. unearned revenues.
D. accrued expenses.
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