Adjusting Entries: Accrued Expenses Video Lessons

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Problem: Employees are paid $2,400 on every Friday for a five-day workweek. The accounting period ends on Wednesday, December 31. Adjusting for the salaries and benefits expense for the last three days of the accounting period would: A) increase a deferred expense. B) increase an accrued expense. C) decrease a deferred expense. D) decrease an accrued expense.

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Problem Details

Employees are paid $2,400 on every Friday for a five-day workweek. The accounting period ends on Wednesday, December 31. Adjusting for the salaries and benefits expense for the last three days of the accounting period would:

A) increase a deferred expense.

B) increase an accrued expense.

C) decrease a deferred expense.

D) decrease an accrued expense.

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What scientific concept do you need to know in order to solve this problem?

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