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&4 Saved During the year, a company recorded prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. At the
&4 Saved During the year, a company recorded prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. At the end of its annual accounting period, the company must make three adjusting entries. (1) Accrue utilities expense (2) Adjust the Supplies account for supplies used up during the year (3) Adjust the Unearned Revenue account to recognize earned services revenue For each of the adjusting entries (1). (2), and (3), indicate the account to be debited and the account to be credited-from a through below. a. Utilities expense b. Accounts payable c. Supplies expense d. Supplies e. Unearned revenue f. Services revenue g. Plant assets h. Current assets 1. Gash 1 Debit Credit Debit Credit 2 Cinde
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