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Identify the explanation that describes each entry below. Then click the drop-down menu icon and select the correct answer from the choices given. 1,500

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Identify the explanation that describes each entry below. Then click the drop-down menu icon and select the correct answer from the choices given. 1,500 1,500 6,500 Unearned Professional Revenue 6,500 Interest Receivable........... 7,000 Interest Income....... 7,000 Interest Expense. 4,000 Interest Payable 4,000 To record an accrued expense. Prepaid Rent...... 3,500 Choose... Cash....... Salaries Payable Cash........... Cash.............. 3,500 To record accrued revenue. To record an accrued expense. Not an adjusting entry. To record the use of a prepaid expense. To record depreciation expense. To record the earning of previously unearned revenue. To record accrued revenue. Rent Expense. 1,000 Prepaid Rent... 1,000 To record the use of a prepaid expense. Salaries Expense... 5,000 Salaries Payable... 5,000 To record an accrued expense. Depreciation Expense. 3,000 Accumulated Depreciation. 3,000 To record an accrued expense. Unearned Professional Revenue... 2,000 Professional Revenue. 2,000 To record the earning of previously unearned revenue. +

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