QS 3-16 (Algo) Recording and analyzing adjusting entries LO P1, P2, P3, P4 For the entries below. Identify the account to be debited and the account to be credited. Indicate which of the account statement account and which is the balance sheet account. Assume the company records prepayments of expenses in and cash receipts of unearned revenues in liability accounts. a. Entry to record wage expenses incurred but not yet paid or recorded b. Entry to record services revenue earned but not yet billed or recorded. c. Entry to record consulting services performed but not yet billed or recorded. d. Entry to record service revenues performed but not yet billed or recorded. e. Entry to record janitorial expense incurred but not yet paid. Financial Statement Income statement Accounts a, Account to be debited a. Account to be credited b. Account to be debited b. Account to be credited c. Account to be debited Account Title Wages expense Wagos payable Janitorial expenso Prepaid insurance Balance sheet income statement 3 QS 3-17 (Algo) Determining effects of adjusting entries LO P1, P3 in making adjusting entries at the end of its accounting period. Chao Consulting mistakenly forgot to record 12.5 DO 1. $3,600 of insurance coverage that had expired (this $3.600 cost had been initially debited to the Prepaid insurance account) 2. $2.200 of accrued salaries expense As a result of these two oversights, the financial statements for the reporting period will