The following adjustment data at July 31. For each transactions indicate (1) the type of adjustment (prepaid expense, unearned revenue, accrued revenue or accrued expense) and (2) the status of the account before adjustment (overstated or understated).

Type of adjustment

a Prepaid expense

b Unearned revenue

c accrued revenue

d accrued expense

Status of the account before adjustment

E Overstated

F Understated

_________________ __________________ Revenue of $500 collected in advance has been earned.

_________________ __________________Salaries of 1,000 are unpaid.

_________________ __________________ Prepaid insurance totaling $1,000 has expired.

_________________ __________________Supplies expense of 300 are unpaid.

_________________ __________________Revenue earned but unbilled $700.

_________________ __________________Supplies of $800 are on hand, supplies account shows $1,500 balance.