Consider the four entries in the preceding brief exercise. In Exercise Required Identify each entry as an
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In Exercise
Required
Identify each entry as an accrued expense, an accrued revenue, a deferred expense, or a deferred revenue.
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1. Utilities Expense 2. (b) 3. (c) 4. Unearned Revenue 2,900 2,900 19,500 7,000 4,650 Service Revenue 19,500 7,000 4,650 Prepaid Insurance
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