156 Chapter 3 Adjusting describes it in the space beside each entry. (You can use letters more than once.) A. To record payment of a prepaid expense. PROBLEM SET B For each of the following journal entries / through 12, enter the letter of the explanation that most cloich F. To record an accrued expense. Problem 3-18 dentilying adjusting entries B. To record this period's use of a prepaid expense. G. To record payment of an accrued expense. P1 H. To record an accrued revenue. c. To record this period's depreciation expense. D. To record receipt of unearned revenue. E. To record this period's earning of prior I. To record receipt of accrued revenue. unearned revenue. 3,500 1. Interest Receivable 2. Salaries Payable 3. Depreciation Expense 3,500 9,000 8,000 9,000 4,000 5,000 Interest Revenue 9,000 8,000 9,000 4,000 5,000 1,500 7,000 1,000 . 3,000 Cash Accumulated Depreciation Unearned Professional Fees Prepaid Insurance . Interest Payable... Accounts Receivable (from services) Salaries Payable Interest Peceivable Cash Prepaid Rent Professional Fees Earned 4. Cash 5. insurance Expense 6. Interest Expense 7. Cash .. 8. Salaries Expense 7,000 1,000 3,000 7,500 6,000 -9. | Cash 10. Prepoid Rent 11. Rent Expense _12. unearned Professional Fees 6,000