Learning Objectives

After studying Chapter 21, in addition to defining key terms, you will be able to:

• LO1 Record the reversing entry for accrued revenue.
• LO2 Record an entry to receive payment on a note receivable with accrued interest.
• LO3 Calculate accrued interest expense.
• LO4 Record the adjusting entry for an accrued expense.
• LO5 Record the reversing entry for an accrued expense.
• LO6 Record an entry to pay an installment on a note payable with accrued interest.
• LO7 Record an entry to receive cash on deferred revenue.
• LO8 Calculate the amount and record the entry for deferred revenue when earned.
• LO9 Record an entry to pay cash on a deferred expense.
• LO10 Calculate the amount and record the entry for a deferred expense when incurred.

21 Vocabulary Acct

21 Accounting Text

21 Coversheet

Working papers 21- wrkprs, PowerPoint 21-1 lectrue series part 1 and 21-1 lectrue series part 2, Excel problem

Working Papers 21-2 wrkprs, PowerPoint 21-2 lecture series, Excel problem

21 mastery and Challenge problems

21 study guide