Accounting Manager Interview Question:

Can you list out some of the accrued expenses and the accounts in which you would record them?

Submitted by: Muhammad

☛ Wage accrual is entered with a credit to the “wages payable account”
☛ Interest accrual is entered with a credit to the “interest payable account”
☛ Payroll tax accrual is entered with a credit to the “payroll taxes payable account”
Submitted by: Muhammad