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Which of the following transactions does not involve an accrual? a. Recording interest earned that will be received in the next period. b. Recording operating expense incurred but not yet paid. c. Recording salary expense incurred but not yet paid. d. Recording the pre-payment of two years' worth of insurance.

Which of the following transactions does not involve an accrual? a. Recording interest earned that will be received in the next period. b. Recording operating expense incurred but not yet paid. c. Recording salary expense incurred but not yet paid. d. Recording the pre-payment of two years' worth of insurance.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 8MC: If an adjustment includes an entry to a payable or receivable account, which type of adjustment is...
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Solve this question with steps please. The subject is fundamental of financial accounting.
Which of the following transactions does not involve an accrual? a. Recording interest earned that will be received in the next period. b. Recording operating expense incurred but not yet paid. c. Recording salary expense incurred but not yet paid. d. Recording the pre-payment of two years' worth of insurance.
Transcribed Image Text:Which of the following transactions does not involve an accrual? a. Recording interest earned that will be received in the next period. b. Recording operating expense incurred but not yet paid. c. Recording salary expense incurred but not yet paid. d. Recording the pre-payment of two years' worth of insurance.
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