Question: Adjusting Entries for Accruals: Accrued Expenses - Knowledge Check Knowledge Check For accrued expenses, indicate if the account type shown is over or understated prior

Adjusting Entries for Accruals: Accrued Expenses

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Knowledge Check

For accrued expenses, indicate if the account type shown is over or understated prior to adjustment and what type of account is debited and credited in the accrued expense adjusting entry.

Accounts Before Adjustment

Adjusting Entry

Expenses

Liabilities

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