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For each entry () to (12) below, choose the letter of the explanation that describes it in the table that follows. You can use some
For each entry () to (12) below, choose the letter of the explanation that describes it in the table that follows. You can use some letters more than once. a. To record depreciation expense. b. To record an accrued expense. c. To record the use of a prepaid expense. d. To record accrued revenue. e. To record the earning of previously unearned revenue. 1. Not an adjusting entry. Entry Debit Credit General Journal Depreciation Expense Accumulated Depreciation 3,000 Unearned Professional Revenue Professional Revenue 2,000 Rent Expense Prepaid Rent 1.000 4,000 Interest Expense Interest Payable Prepaid Rent 3. Salaries Expense Salaries Payable Insurance Expense 6,000 For each entry () to (12) below, choose the letter of the explanation that describes it in the table that follows. You can use some letters more than once. a. To record depreciation expense. b. To record an accrued expense. c. To record the use of a prepaid expense. d. To record accrued revenue. e. To record the earning of previously unearned revenue. 1. Not an adjusting entry. Entry Debit Credit General Journal Depreciation Expense Accumulated Depreciation 3,000 Unearned Professional Revenue Professional Revenue 2,000 Rent Expense Prepaid Rent 1.000 4,000 Interest Expense Interest Payable Prepaid Rent 3. Salaries Expense Salaries Payable Insurance Expense 6,000
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