For journal entries 1 through 12, indicate the explanation that most closely describes it. You can use explanations more than once.

A. To record receipt of unearned revenue.

B. To record this period’s earning of prior unearned revenue.

C. To record payment of an accrued expense.

D. To record receipt of an accrued revenue.

E. To record an accrued expense.

F. To record an accrued revenue.

G. To record this period’s use of a prepaid expense.

H. To record payment of a prepaid expense.

I. To record this period’s depreciation expense.

Transcribed Image Text:

1. Interest Expense... Interest Payable. 2. Depreciation Expense... Accumulated Depreciation. 3. Unearned Revenue..... Services Revenue 4. Insurance Expense Prepaid Insurance 5. Salaries Payable Cash 6. Prepaid Rent Cash 1,000 4,000 3,000 4,200 1,400 4,500 1,000 4,000 3,000 4,200 1,400 4,500 7. Salaries Expense Salaries Payable 8. Interest Receivable.. Interest Revenue 9. Cash........ Accounts Receivable (from consulting)... 10. Cash. Unearned Revenue 11. Cash....... Interest Receivable 12. Rent Expense... Prepaid Rent... 6,000 5,000 9,000 7,500 2,000 2,000 6,000 5,000 9,000 7,500 2,000 2,000