5 Slide 5 er 03: Adjusting Accounts and Preparing Financial Statements are and explain adjusting entries. wledge Check 02 the sentence in column 1 (Event) with the correct phrase from column 2 (Activity). Event Activity Type select select Prepaid expenses reflect transactions when cash is paid: Accrued revenues reflect transactions when cash is received: Unearned revenues reflect transactions when cash is received: Accrued expenses reflect transactions when cash is paid: before the related revenue is recognized. after the related expense is recognized. before the related expense is recognized. after the related revenue is recognized submit answer & comme Prey 2 of 13 Next > 5 of 17 Slide 5 chapter 03: Adjusting Accounts and Preparing Financial Statements Prepare and explain adjusting entries. Knowledge Check 02 Finish the sentence in column 1 (Event) with the correct phrase from column 2 (Activity) Activity Type Event select select Prepaid expenses reflect transactions when cash is paid: Accrued revenues reflect transactions when cash is received: Unearned revenues reflect transactions when cash is received: Accrued expenses reflect transactions when cash is paid: select select submit answer & continue