State whether each situation is a prepaid expense, unearned revenue, accrued revenue or an accrued expense. 1. 2. 3. 4. Unrecorded interest on savings bonds is $245. Property taxes that have been incurred but that have not yet been paid or recorded amount to $300. Legal fees of $1,000 were collected in advance. By year end 60 percent were still unearned. Prepaid insurance had a $500 balance prior to adjustment. By year end, 40 percent was still unexpired. eTextbook and Media Accrued Accruec Unearne Prepaid

State whether each situation is a prepaid expense, unearned revenue, accrued revenue or an accrued expense. 1. Unrecorded interest on savings bonds is $245. 2. Property taxes that have been incurred but that have not yet been paid or recorded amount to $300. 3. Legal fees of $1,000 were collected in advance. By year end 60 percent were still unearned. 4. Prepaid insurance had a $500 balance prior to adjustment. By year end, 40 percent was still unexpired