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EX 3 - 2 Classifying adjusting entries Obj. 1 , 2 , 3 The following accounts were taken from the unadjusted trial balance of Murray
EX Classifying adjusting entries
Obj.
The following accounts were taken from the unadjusted trial balance of Murray Co a congressional lobbying firm. Indicate whether or not each account would normally require an adjusting entry. If the account normally requires an adjusting entry, use the following notation to indicate the type of adjustment:
AEAccrued Expense
ARAccrued Revenue
PEPrepaid Expense
URUnearned Revenue
To illustrate, the answer for the first account follows:
tableAccountAnswerAccounts Receivable,Normally requires adjustment ARBuildingCashCommon Stock,Interest Receivable,LandPrepaid Rent,Salaries Payable,SuppliesUnearned Fees,Wages Expense,
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