Question

4) An appropriate journal entry to record accrued interest would involve a debit to Interest Expense and a credit to​

Answer 1

Answer:

An adjusting journal entry is an entry in a company's general ledger that occurs at the end of an accounting period to record any unrecognized income or expenses for the period. When a transaction is started in one accounting period and ended in a later period, an adjusting journal entry is required to properly account for the transaction. Adjusting journal entries can also refer to financial reporting that corrects a mistake made previously in the accounting period.

Explanation:

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