Accounting Dictionary - Letter A

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Accrued expenses
(also called accrued liabilities) are expenses incurred but not yet paid in cash or recorded. Accrued expenses are usually recognized at the end of an accounting period by posting an adjusting journal entry that impacts liability and expense accounts. When recorded, accrued expenses are usually shown in the liabilities section of the balance sheet. Examples of accrued expenses are rent expense, interest expense, or salary expense.
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