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Luong Corporation encounters the following situations: Identify what type of adjusting entry (prepaid expense, unearned revenue, accrued expense, or accrued revenue) is needed in each

Luong Corporation encounters the following situations: Identify what type of adjusting entry (prepaid expense, unearned revenue, accrued expense, or accrued revenue) is needed in each situation at December 31, 2022.

1. Luong collects $1,300 from a customer in 2022 for services to be performed in 2023. select a type of adjusting entry Prepaid expense Unearned revenue Accrued expense Accrued revenue
2. Luong incurs utility expense which is not yet paid in cash or recorded. select a type of adjusting entry Prepaid expense Accrued revenue Unearned revenue Accrued expense
3. Luong's employees worked 3 days in 2022 but will not be paid until 2023. select a type of adjusting entry Prepaid expense Accrued revenue Unearned revenue Accrued expense
4. Luong performs services for customers but has not yet received cash or recorded the transaction. select a type of adjusting entry Accrued revenue Accrued expense Unearned revenue Prepaid expense
5. Luong paid $2,800 rent on December 1 for the 4 months starting December 1. select a type of adjusting entry Unearned revenue Accrued expense Prepaid expense Accrued revenue
6. Luong received cash for future services and recorded a liability until the service was performed. select a type of adjusting entry Accrued expense Prepaid expense Unearned revenue Accrued revenue
7. Luong performed consulting services for a client in December 2022. On December 31, it had not billed the client for services provided of $1,200. select a type of adjusting entry Prepaid expense Unearned revenue Accrued revenue Accrued expense
8. Luong paid cash for an expense and recorded an asset until the item was used up. select a type of adjusting entry Unearned revenue Prepaid expense Accrued revenue Accrued expense
9. Luong purchased $900 of supplies in 2022; at year-end, $400 of supplies remain unused. select a type of adjusting entry Unearned revenue Accrued revenue Prepaid expense Accrued expense
10. Luong purchased equipment on January 1, 2022; the equipment will be used for 5 years. select a type of adjusting entry Accrued expense Unearned revenue Prepaid expense Accrued revenue
11. Luong borrowed $12,000 on October 1, 2022, signing an 8% one-year note payable. Both the interest and the note will be paid in 1 year. select a type of adjusting entry Accrued expense Unearned revenue Prepaid expense Accrued revenue

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