Accrued Expense A business’s lawyer charges $60 per hour to meet with the board of directors. The business pays for the expense on the fifth of every month. By the end of the year, the board members and lawyer had met 51 hours since the last pay period.

a. How much should the business record as an accrued legal expense at year-end?

b. Record the journal entry to make the adjustment

Answer rating: 100% (QA)

a 3060 51 hours since last ... View the full answer