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Check my work For journal entries 1 through 12, select the letter of the explanation that most closely describes it in the space beside each
Check my work For journal entries 1 through 12, select the letter of the explanation that most closely describes it in the space beside each entry. You can use letters 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. 1. To record this period's depreciation expense. Entry Explanation Credit Journal Entries Interest Receivable Interest Revenue Debit 2,800 2,800 2 4,300 Cash Accounts Receivable (from consulting) 4,300 4,100 Cash Unearned Professional Fees 4.100 3,300 Cash Interest Receivable 3,300 5 1,000 Rent Expense Prepaid Rent 1,000 6 4,800 Interest Expense Interest Payable 4,800 5,900 Depreciation Expense Accumulated Depreciation 5,900 5,100 Unearned Professional Fees Professional Fees Earned 5,100 8,700 Insurance Expense Prepaid Insurance 8,700 6,700 Salaries Payable Cash 6,700 2.100 Prepaid Rent Cash 2,100 12 1,000 Salaries Expense Salaries Payable 1,000
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