Annual interest is $75.Notes payable, accounts payable, unearned revenues, and accrued liabilities are examples of current liabilities.
Which of the aforementioned are current liabilities?
- Notes payable, accounts payable, unearned revenues, and accrued liabilities are examples of current liabilities.
- Examples of current liabilities are provided below: Suppliers who offer goods or services on credit are referred to as diverse creditors. A short-term loan offered by the bank is known as an overdraft. Rent is the balance of unpaid bills for already rendered services.
- Accrued income is debited on the balance sheet under current assets as an adjusting journal entry when using cash basis accounting. You'll list it under earned revenue on the income statement. As soon as the money is received, make an adjustment entry to the revenue account.
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