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Question

For passing adjusting entry for expenses payable,  account is debited and  account is credited.


A
Expenses
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B
Prepaid expenses
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C
Outstanding expenses
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D
Cash
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Solution

The correct options are
A Expenses
C Outstanding expenses
The correct adjustment entry for expenses payable is:

Expenses A/c      Dr                                  
  To Outstanding expenses A/c

Accountancy

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