Exercise 3-2 Classifying adjusting entries LO P1, P2, P3, P4 In the blank space beside each adjusting entry, enter the letter of the explanation A through F that most closely describes the entry. A. To record this period's depreciation expense. B. To record accrued salaries expense. C. To record this period's use of a prepaid expense. D. To record accrued interest revenue. E. To record accrued interest expense. F. To record the earning of previously unearned income. G. To record cash receipt of unearned revenue. H. To record cash payment of an accrued expense. 1. To record cash receipt of an accrued revenue. J. To record cash payment of a prepaid expense. 13,280 Salaries Expense Salaries Payable 13,280 3,180 Insurance Expense Prepaid Insurance 3,180 3,300 Interest Receivable Interest Revenue 3,300 4,200 Cash Unearned Revenue 4,200 1,700 Accounts Payable Cash 1,700 12,300 Cash Accounts Receivable (from services) 12,300 13,280 Salaries Expense Salaries Payable 13,280 3,180 Insurance Expense Prepaid Insurance 3,180 3,300 Interest Receivable Interest Revenue 3,300 Cash 4,200 Unearned Revenue 4,200 1,700 Accounts Payable Cash 1,700 12,300 Cash Accounts Receivable (from services) 12,300 2,208 Interest Expense Interest Payable 2,208 Unearned Professional Fees 19,250 Professional Fees Earned 19,250 500 Prepaid Rent Cash 500 38,217 Depreciation Expense Accumulated Depreciation 38,217