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ID: 2543968 • Letter: M
Question
Media Suggested Sites See What's Hot Web Slice Gallery Google Apple Disney ESPN Yahool Premium Paradise Kick. ker Releases Boku No Hero A Thanos (2016)1 Problem 3-1B Identifying adjusting entries with explanations P For each of the following journal entries / through 12, enter the letter of the explanation that most closely describes it in the space beside each entry. (You can use letters more than once.) Page A. To record payment of a prepaid expense. B. To record this period's use of a prepaid expense. C. To record this period's depreciation expense. D. To record receipt of unearned revenue. E. To record this period's earning of prior unearned revenue. F. To record an accrued expense. G. To record payment of an accrued expense. H. To record an accrued revenue. I. To record receipt of accrued revenue. -1. Interest Receivable 3,500 9,000 8,000 9,000 Intorest Revenue .. 3,500 9.000 8,000 9,000 2. Salaries Payable Cash 3. Depreciation Expense Unearned Professional Fees 0Explanation / Answer
H 1 Interets receivable Dr. Interest revenue G 2 salaries payable Dr. Cash account C 3 Depreciation Dr. Accumulated depreciation D 4 Cash Unearned professional fees B 5 Insurance expense Prepaid insurance F 6 Interest expense Dr. Interest payable I 7 Cash account Accounts rececivable F 8 Salaries expense Slaries payable H 9 Cash Account Interest rececivable A 10 Prepaid rent Cash B 11 Rent expense Dr. Prepaid rent E 12 Unearned Professional fees Dr. Professional fees earned