Answer Happy

The following are examples of adjusting entries in the general journal of the Diane's Company. Identify the accounts that are affected by each entry and state whether it is a deferral or accrual entry. 1. Adjusting entry for revenue that has now been earned by workers but not yet paid or recorded 2. Adjusting entry for revenue that has now been earned, but was paid for previously. 3. Adjusting entry to record periodic depreciation expense 4. Adjusting entry to record the use of one month's worth of prepaid rent 5. Adjusting entry to record interest earned on an investment but not yet received 6. Adjusting entry to record the cost related to electricity expense used, but not yet paid for.