Accrued expenses is an accounting term for money your business owes that you have not yet paid and you have not received a bill for yet.
In this video we explore an example of how to use accrued expenses to better understand the term.
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00:00 What are Accrued Expenses in Accounting? With Examples!
00:01 Accrued expenses definition
00:10 Accrued expenses examples
00:51 Accrued expenses adjusting entries
01:19 Accrued expenses adjustment journal
02:04 Accrued expenses on the balance sheet
03:43 Accrued expenses reversing journal
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