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View Full Version : N accrual is required in the amount of $40,000 for municipal property taxe


hana99
Jul 4, 2012, 01:31 PM
What is the journal entry to record

paraclete
Jul 4, 2012, 04:19 PM
Ask yourself what is the nature of the transaction. Accrual means bringing to account an expense which is related to the current period but remains unrecorded at balance date

You therefore have two elements ; an expense, and a current liability