For journal entries /through 12, 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. Entry Explanation Journal Entries Debit Credit 1 Depreciation Expense 1,400 Accumulated Depreciation 1,400 2 Unearned Professional Fees 4,300 Professional Fees Earned 4,300 3 Insurance Expense 3,300 Prepaid Insurance 3,300 Salaries Payable Cash 4,500 4,500 5 Prepaid Rent Cash 2,000 2,000 6 Salaries Expense. Salaries Payable 3,700 3,700 Interest Receivable Interest Revenue 5,400 5.400 8 Cash 4,900 Accounts Receivable (from consulting) 4,900 9 Cash 9,000 Uneamed Professional Fees 9,000 10 Cash Interest Receivable 6,000 0.000 11 Rent Expense 3,000 Prepaid Rent 3,000 12 Interest Expense 1,700 Interest Payable 1,700