Received at the end of the accounting period

Assignment Help Financial Accounting

Reference no: EM13747103

If a resource has been consumed but a bill has not been received at the end of the accounting period, then

it is optional whether to record the expense before the bill is received.

an adjusting entry should be made recognizing the expense.

an expense should be recorded when the bill is received.

an expense should be recorded when the cash is paid out.

Reference no: EM13747103

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