Question $4$

$20$ pts

Signify "True" or "False" as applicable for each of the following items as they pertain to adjusting entries.

Assume an adjusting entry is being recorded where salary expense is being debited. The offsetting credit would most likely be to cash.

Assume an adjusting entry is being recorded where unearned revenue is being debited. The offsetting credit would most likely be to revenue.

Assume an adjusting entry is being recorded where accounts receivable is being debited. The offsetting credit would most likely be to cash.

Assume an adjusting entry is being recorded where prepaid rent is being credited. The offsetting debit would most likely be to rent expense.

A journal entry where prepaid rent is being debited would most likely be an adjusting entry.

A journal entry where unearned revenue is being credited would most likely NOT be an adjusting entry.