Asked by
Angela Turner
on Nov 15, 2024Verified
An adjusting entry would not include which of the following accounts?
A) Cash
B) Interest Receivable
C) Accounts Payable
D) Unearned Revenue
Adjusting Entry
a journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period for accurate financial reporting.
Interest Receivable
Interest Receivable refers to the interest income that has been earned but not yet received in cash.
Unearned Revenue
Income received by a company for goods or services to be provided in the future; it is recorded as a liability until the service or product is delivered.
- Acknowledge the repercussions of failing to execute necessary adjustment entries.
Verified Answer
AJ
Learning Objectives
- Acknowledge the repercussions of failing to execute necessary adjustment entries.