1.     JOURNALIZING ACCRUED INTEREST EXPENSE 1 2 3
1. Determine the amount of accrued interest.
2. Debit the expense account.
3. Credit the liability account.
Lesson 9-3, page 262

2. REVERSING ENTRY FOR ACCRUED INTEREST
1. Debit the liability account. 1
2. Credit the expense account. 2
Lesson 9-3, page 263

3. PAYMENT OF NOTE AT MATURITY
Notes Payable
2/13 7,500.00
1/1 Bal. 7,500.00 2
1. Calculate total interest due at maturity.
2. Debit Notes Payable, $7,
3. Debit Interest Expense, $
Credit Cash, $7,
Interest Expense 2/
1/1 Bal
Cash
2/13 7,625.00 3
4. Determine the interest expense for the current period. 1 4
Lesson 9-3, page 263

4. JOURNALIZING ACCRUED SALARY EXPENSE
1. Debit the expense accounts. 1
2. Credit the liability accounts. 2
Lesson 9-3, page 264

5. REVERSING ENTRY FOR ACCRUED SALARY1
1. Debit the liability accounts.
2. Credit the expense accounts. 2
Lesson 9-3, page 265

6. 1 2 1 2 1. Debit the expense account.
JOURNALIZING ACCRUED EMPLOYER PAYROLL TAXES EXPENSE
1. Debit the expense account. 1
2. Credit the liability accounts. 2
REVERSING ENTRY FOR ACCRUED EMPLOYER PAYROLL TAXES
1. Debit the liability accounts. 1 2
2. Credit the expense account.
Lesson 9-3, page 266

7. JOURNALIZING ACCRUED FEDERAL INCOME TAX EXPENSE
1. Debit the expense account. 1 2
2. Credit the liability account.
Lesson 9-3, page 267

8. TERM REVIEW
accrued expenses
Lesson 9-3, page 268