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For journal entries 1 through 6 identify the explanation that most closely describes it. A. To record this period's depreciation expense. B. To record accrued
For journal entries 1 through 6 identify the explanation that most closely describes it. 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. Explanation Debit Credit 2,208 2,208 Journal Entries Interest Expense Interest Payable Insurance Expense Prepaid Insurance Unearned Revenue 3,180 3,180 19,250 Services Revenue 19,250 Interest Receivable 3,300 Interest Revenue 3,300 38,217 38,217 Depreciation Expense Accumulated Depreciation Salaries Expense Salaries Payable 13,280 13,280
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