QS 3-4 Concepts of adjusting entries LO P1, P2, P3, P4 During the year, a company recorded prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. At the end of its annual accounting period, the company must make three adjusting entries. (1) Record services revenue earned for which cash will be received the following period. 12) Accrue rent expense (3) Accrue wages expense. For each of the adjusting entries (1.2) and (3). Indicate the account to be debited and the account to be credited-from a through / below. a. Accounts receivable b. Services revenue c. Rent expense d. Accounts payable e. Wages expense 1. Wages payable 9. Equipment h. Prepaid salaties 1. Long-term investments 1. Debit Credit 2 Debit Credit 13 Debe Creda 3 Next >