Which of the following accounts is used to record an accrual for expenses?

  1. Prepaid rent.
  2. Unearned revenues.
  3. Accounts receivable.
  4. Interest payable.

Answer d. Interest payable

Explanation: Interest payable is a liability in accounting terms; it is displayed on an organisation’s asset report or balance sheet. The fiscal summaries are critical to both monetary demonstrating and bookkeeping. To put it plainly, it addresses the measure of interest presently owed to banks.

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