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again, I'm trying mate but this is difficult. Ask the question you think you are trying to ask in five different ways until you are certain i am aware of what it is you are asking and i will reply with my infinite economic wisdom, i assure you...
Struggling at the moment, though, sorry...
What else can I help you with?
What is the journal entry to record accrued interest expense?
Debit Accrued Interest Expense Credit Accrued Interest Payable
What is the journal entry for payment of accrued expense?
debit accrued expensescredit cash / bank
What is the accounting entry for Accrued Expense?
Dr. Accrued Expense Cr. Cash or Cash in bank
What is the journal entry of accrued interest?
[debit] Interest expense [credit]interest payable
What is the journal entry to record payment of accrued interest?
[Debit] Interest expense xxxx [Credit] Interest payable xxxx [Debit] Interest payable xxxx [Credit] Cash / bank xxxx
What is the journal entry to record accrued interest expense?
Debit Accrued Interest Expense Credit Accrued Interest Payable
What is the journal entry for payment of accrued expense?
debit accrued expensescredit cash / bank
Is accrued expense a financial liability?
If you are doing adjusting entries, an accrued expense will affect a balance sheet account (payable) and an income statement account (expense). Such as accrued interest at the end of year would be: Interest Expense (Debit) Interest Payable (Credit)
What is the accounting entry for Accrued Expense?
Dr. Accrued Expense Cr. Cash or Cash in bank
What is the journal entry for accrued interest expense on Notes Payable?
debit interest expense, credit interest payable for the accrued amount
What are the examples of accrued expenses?
Accrued expense refers to an expense that has been incurred but not yet paid. Examples of accrued expense items might be interest that has accrued on an outstanding note that has not been paid, and taxes that have accrued but not yet been paid.
What is the journal entry of accrued interest?
[debit] Interest expense [credit]interest payable
What is the journal entry to record payment of accrued interest?
[Debit] Interest expense xxxx [Credit] Interest payable xxxx [Debit] Interest payable xxxx [Credit] Cash / bank xxxx
Is accrued interest a asset or liablity?
Accrued interest is typically considered a liability for the borrower, as it represents the interest expense that has been incurred but not yet paid. For the lender, however, accrued interest is an asset, as it reflects the interest income that is expected to be received in the future. Thus, the classification of accrued interest depends on the perspective of the party involved in the transaction.
What is accured interest?
Accreud interst is interst payable that has not been paid yet: Double entry: Debit : Say Laon Interest Account Credit: Interest Payable Account Accrued Interest: This is the interest which we have earned but not yet received. Example: If there is a contract that we will receive the interest on money landed to somebody of $ 1200 at the end of the year then after 1 month we have earned the interest of $ 100 but not yet received so we will show that $ 100 in the asset side of balance sheet as accrued interest. The above is Accrued Interest Income. Similarly, you can have Accrued Interest Expense. So, using the above example, if you were the borrower, at the end of the first month you would debit Interest Expense for $100 and credit a liability account called Accrued Interest.
How can accountant record interest payment?
An accountant can record an interest payment by making a journal entry that debits the interest expense account and credits the cash or bank account. This reflects the outflow of cash and recognizes the cost of borrowing. If the interest is accrued but not yet paid, the accountant would debit the interest expense and credit an interest payable account instead. This ensures that the financial statements accurately reflect the company's financial position.
Do accrued expense accounts have debit balance?
accrued expense has debit balance like all other expenses.
