For each of the following entries, select the letter of the explanation that most closely describes it in the space beside each entry. (You can use letters more than once.) A. To record receipt of unearned revenue. B. To record this period's earning of prior unearned revenue. C. To record payment of an accrued expense. D. To record receipt of an accrued revenue. E. To record an accrued expense. F. To record an accrued revenue. G. To record this period's use of a prepaid expense. H. To record payment of a prepaid expense. 1. To record this period's depreciation expense. Explanation Credit Journal Entries Interest Expense Interest Payable Debit 1,000 1,000 4,000 Depreciation Expense Accumulated Depreciation 4,000 3,000 Unearned Professional Fees Professional Fees Earned 3,000 4,200 Insurance Expense Prepaid Insurance 4.200 1,400 Salaries Payable Cash 1,400 Prepaid Rent 4,500 Prepaid Rent Cash 4,500 4,500 6,000 Salaries Expense Salaries Payable 6,000 5,000 Interest Receivable Interest Revenue 5,000 9,000 Cash Accounts Receivable (from consulting) 9,000 7,500 Cash Unearned Professional Fees 7,500 2,000 Cash Interest Receivable 2,000 2,000 Rent Expense Prepaid Rent 2,000