An Example of an Adjusting Entry for an Accrued Expense

question 13

Multiple Choice

An example of an adjusting entry for an accrued expense item using the QBO journal is:

• A) \[\begin{array} { l c c }
• &\text { Debit } & \text { Credit } \\
• \text { Interest payable } &\$ 1,000\\
• \text { Interest expense } & &\$ 1,000 & \\
• \end{array}\]
• B) \[\begin{array} { l c c }
• &\text { Debit } & \text { Credit } \\
• \text { Interest expense } &\$ 1,000\\
• \text { Interest payable } & &\$ 1,000 & \\
• \end{array}\]
• C) \[\begin{array} { l c c }
• &\text { Debit } & \text { Credit } \\
• \text { Interest receivable } &\$ 1,000\\
• \text { Interest revenue } & &\$ 1,000 & \\
• \end{array}\]
• D) \[\begin{array} { l c c }
• &\text { Debit } & \text { Credit } \\
• \text { Interest revenue } &\$ 1,000\\
• \text { Interest receivable } & &\$ 1,000 & \\
• \end{array}\]

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Definitions:

Anna Freud

A pioneering child psychoanalyst and the daughter of Sigmund Freud, known for her theoretical and clinical contributions to the field of psychoanalysis.

Internalizing Problem

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Externalizing Problem

Behaviors directed outwardly, typically involving conflicts with other individuals or society, such as aggression or defiance.

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A psychological disorder characterized by the elevation or lowering of a person's mood, such as depression or bipolar disorder.