If wages payable in the ledger is a credit what is the balancing debit?
Question:
If wages payable in the ledger is a credit what is the balancing debit?
Accrued expenses:
Accrued expenses refer to those expense already incurred by the company but payment of which are not yet done. This transaction is usually included as part of the adjusting entries which are made at the end of the reporting period.
Answer and Explanation: 1
Become a Study.com member to unlock this answer! Create your account
View this answerWhen an accrued expense is incurred, an entry will include a debit to an expense account and a credit to a payable account. This refers to the...
See full answer below.
Learn more about this topic:
from
Chapter 4 / Lesson 5Learn about accrued revenue. Understand the definition of accrued revenue, identify the types of accrued revenue and expenses, and see accrued revenue examples.