1. LESSON 21-2 Accrued Expenses
7/24/2018
LESSON 21-2
Accrued Expenses

2. ANALYZING AN ADJUSTMENT FOR ACCRUED INTEREST EXPENSE
page 622 2 3 1
1. Debit Interest Expense.
2. Credit Interest Payable.
3. Record the adjusting entry.
LESSON 21-2

3. POSTING AN ADJUSTING ENTRY FOR ACCRUED INTEREST EXPENSE
page 623
1. Post the debit.
2. Post the credit. 1 2
LESSON 21-2

4. REVERSING ENTRY FOR ACCRUED INTEREST EXPENSE
page 624 1 2
1. Debit Interest Payable.
2. Credit Interest Expense.
LESSON 21-2

5. PAYING A NOTE PAYABLE SIGNED IN A PREVIOUS FISCAL PERIOD
page 625
March 1. Paid cash for maturity value of the September 2 note: principal, $10,000.00, plus interest, $600.00; total, $10, Check No. 916. 1 3 2
1. Debit for the principal of the note. 4
2. Debit for the total interest.
3. Credit for the maturity value of the note.
4. Post the amounts in the General columns.
LESSON 21-2

6. TERMS REVIEW accrued expenses accrued interest expense page 627
LESSON 21-2