An adjusting entry that debits an expense and credits a liability is which type?
a. accrued expense c. prepaid expense
b. depreciation expense d. cash expense Use the following data for questions 11 and 12. Here are key figures from the balance sheet of Seville, Inc., at the end of 20X3 (amounts in thousands):
December 31, 20X3
Total assets (of which 40% are current)
Bonds payable (long-term)
Total liabilities and stockholders’ equity