Given below i just finished the adjusting entries on (deferrals and accruals). please select one of the entry and answer the following questions given below in the attachments.

Critical thinking assignment Question 1 AAA Corporation's accounting period end December 31. Prepare the necessary adjusting entry: At December 31, 2014, salaries earned by employees, but unpaid and unrecorded, totaled $9,200. DR salaries expenses 9,200 CR salaries payable 9,200 Question 2 AAA Corporation's accounting period end December 31. Prepare the necessary adjusting entry: The water bill for the month of December for $312 was received on January 3, 2015. DR utilities expenses 312 CR account payable 312 Question 3 AAA Corporation's accounting period end December 31. Prepare the necessary adjusting entry: On October 1, 2014, AAA Corporation received $10,000 from the bank on a 12%, nine- month, interest-bearing note. DR cash 10,000 CR notes payable 10000 Question 4 AAA Corporation's accounting period end December 31. Prepare the necessary adjusting entry: AAA Corporation received cash of $18,000 on August 1, 2014, for twelve months rent in advance. Unearned rent revenue was credited for the full amount at that time. DR cash 18000 CR unearned revenue 18000 Question 5 AAA Corporation's accounting period end December 31. Prepare the necessary adjusting entry: On October 1, 2014, AAA purchased a two-year insurance policy for $2,400 and recorded it as an asset. DR prepaid insurance 2400 CR insurance expenses 2400 Critical thinking assignment Question 6 AAA Corporation's accounting period end December 31. Prepare the necessary adjusting entry: On December 1, 2014, AAA paid office rent of $6,000 for the next six months. Rent expense was debited. DR prepaid rent CR rent expenses 1000 1000 Question 7 AAA Corporation's accounting period end December 31. Prepare the necessary adjusting entry: Equipment costing $82,000 was purchased on January 2, 2013. Depreciation is computed using the straight-line method, with an 8-year life and $2,000 in salvage value. DR depreciation expenses 10,000 CR accumulated depreciation 10,000 Question 8 Which accounting principles were necessary to apply in the preparation of the above adjusting entries? Why? Accrual concept of accounting and matching principles. the accrual concept of accounting deals when income is earned and when expenses is incurred weather it is collected or paid. the matching principle helps to match the revenue and expenses. Critical thinking assignment ACCT 301-01N Evaluation of Critical Thinking Process in Problem Solving (Metacognition) and Self-reflection Name___________________________ Spring 2015 You recently completed a Critical Thinking Assignment where you prepared adjusting entries (deferrals and accruals). In this metacognition assignment, select one adjusting entry from that Critical Thinking Assignment. Specifically identify how the financial statements would be affected if that adjusting entry is not recorded? Specifically identify which element(s) on each statement is affected, and how it is affected (under or overstated). Identify all accounts affected on each statement. Income Statement Balance Sheet What accounting principle(s) is applied when preparing adjusting entries? When preparing adjusting entries what must be considered in your analysis. Include a reflection on your own problem solving / analysis process