For Journal entries 1 through 12, Indicate the explanation that most closely describes it. You can use explanations more than once A. To record receipt of unearned revenue. B. To record this period's earning of prior unearned revenue. C. To record payment of an accrued expense. D. To record receipt of an accrued revenue. E. To record an accrued expense. F. To record an accrued revenue. G. To record this period's use of a prepaid expense. H. To record payment of a prepaid expense. I. To record this period's depreciation expense. Entry 2 1 3 4 8 5 6 7 Explanation Depreciation Expense Accumulated Depreciation Unearned Revenue Services Revenue Insurance Expense Prepaid Insurance Salaries Payable Cash Journal Entries Prepaid Rent Cash Salaries Expense Salaries Payable Interest Receivable Interest Revenue Cash Accounts Receivable (from consulting) Debit 1,400 4,300 3,300 4,500 2,000 3,700 5,400 4,900 Credit 9,000 1,400 4,300 3,300 4,500 2,000 K 3,700 5,400 4,900

For Journal entries 1 through 12, Indicate the explanation that most closely describes it. You can use explanations more than once A. To record receipt of unearned revenue. B. To record this period's earning of prior unearned revenue. C. To record payment of an accrued expense. D. To record receipt of an accrued revenue. E. To record an accrued expense. F. To record an accrued revenue. G. To record this period's use of a prepaid expense. H. To record payment of a prepaid expense. I. To record this period's depreciation expense. Entry 2 1 3 4 8 5 6 7 Explanation Depreciation Expense Accumulated Depreciation Unearned Revenue Services Revenue Insurance Expense Prepaid Insurance Salaries Payable Cash Journal Entries Prepaid Rent Cash Salaries Expense Salaries Payable Interest Receivable Interest Revenue Cash Accounts Receivable (from consulting) Debit 1,400 4,300 3,300 4,500 2,000 3,700 5,400 4,900 Credit 9,000 1,400 4,300 3,300 4,500 2,000 K 3,700 5,400 4,900

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter6: Work Sheet And Adjusting Entries For A Service Business

Section6.2: Planning Adjusting Entries On A Work Sheet

Problem 1AYU

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