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During the year, a company recorded prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. At the end

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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) Adjust the Unearned Services Revenue account to recognize earned revenue. (2) Adjust the Supplies account for supplies used up during the year. (3) Accrue rent expense. 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. Unearned service revenue b. Service revenue c. Supplies expense d. Supplies e. Rent expense f. Accounts payable g. Cash h. Current assets i. Plant assets 1. Debit Unearned service revenue Credit Service revenue 2. Debit Credit 3. Debit Rent expense Credit

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