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Accrued Expense
Expenses that are recognized on the books before they have been paid, reflecting costs incurred during a particular period.
Adjusting Entry
An accounting record made to allocate income and expenditures to the appropriate accounting periods.
Interest Payable
Accrued interest that a company owes to its creditors or on its debts but has not yet paid.
Interest Expense
The cost incurred by an entity for borrowed funds over a period of time.
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