Examlex
An instructor has just answered a question from a learner. Which of the following is the NEXT action the instructor should take?
Adjusting Entry
A journal entry made in the accounting records at the end of an accounting period to allocate income and expenditure to the appropriate period.
Interest Payable
A liability account on a company's balance sheet representing the amount of interest expense that has been incurred but not yet paid.
Adjusting Entry
A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period for a more accurate financial report.
Salaries Payable
An accounting liability representing the amounts owed to employees for work performed but not yet paid.
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