Accrued Expense Question

by Mridula
(Gwalior, India)

Q: At this stage when the owner has to pay the bill, what will happen to the asset side, will it not decrease by 200? If not, why?

Comments for Accrued Expense Question

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Ans to Mridula's query
by: Anonymous


The journal entry will be as follows:

DR Creditors $200

CR Bank $200


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