Question

Incurred but unpaid expenses that are recorded during the adjusting process with a debit to an expense and a credit to a liability are:

Answer 1

Accrued expenses

Step-by-step explanation:

Answer 2

Incurred but unpaid expenses that are recorded during the adjusting process with a debit to an expense and a credit to a liability are known as an ACCRUED EXPENSE.

An accrued expense is considered to be a current liability by a company because it is an expense already recognized in the books before it is actually paid for. Accrued expenses are periodic and are always included in the company's balance sheet.