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    hana99's Avatar
    hana99 Posts: 1, Reputation: 1
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    #1

    Jul 4, 2012, 01:31 PM
    N accrual is required in the amount of $40,000 for municipal property taxe
    What is the journal entry to record
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    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
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