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Accounting - Chapter 21
Terms in this set (7)
An entry recording revenue before the cash is received, or an expense before the cash is paid.
Expenses incurred in one fiscal period, but not paid until a later fiscal period.
Accrued interest expense
Interest incurred but not yet paid.
An entry recording the receipt of cash before the related revenue is earned, or payment of cash before the related expense is incurred.
Payments for goods or services which have not yet been received.
Cash received for goods or services which have not yet been provided.
An entry made at the beginning of one fiscal period to reverse an adjusting entry made in the previous fiscal period.
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