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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

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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) Accrue rent expense, (2) Accrue utilities expense, and (3) Accrue salaries 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 i below. a. Rent Expense b. Rent payable c. Utilities expense d. Accounts payable e. Salaries expense f. Salaries payable g. Long-term investments h. Intangible assets i. Cash Adjusting entries: 1. Accrue rent expense. 2. Accrue utilities expense. 3. Accrue salaries expense. 1. Debit Credit 2. Debit Credit 3. Debit Credit

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