EX $3-2$ Classifying adjusting entries

Obj. $1,2,3$

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:

AE$-$Accrued Expense

AR$-$Accrued Revenue

PE$-$Prepaid Expense

UR$-$Unearned Revenue

To illustrate, the answer for the first account follows:

$\backslash$table$[[$Account$,$Answer$],[$Accounts Receivable Normally requires adjustment $($AR$).,]]$

Building

Cash

Common Stock

Interest Receivable

Land

Prepaid Rent

Salaries Payable

Supplies

Unearned Fees

Wages Expense