Answer Happy

For journal entries through 12. select the letter of the explanation that most closely describes it in the space beside each entry. You can use letters 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. 1. To record this period's depreciation expense.

Entry Journal Entries Credit Explanation Salaries Payable Cash Debit 2,300 1 2.300 2 3,900 Prepaid Rent Cash 3,900 3 3,200 Salaries Expense Salaries Payable 3.200 4 3,600 Interest Receivable Interest Revenue 3,600 5 1,200 Cash Accounts Receivable (from consulting) 1,200 6 4,700 Cash Unearned Professional Fees 4,700 7 6,200 Cash Interest Receivable 6.200 8 CO 4.100 Rent Expense Prepaid Rent 4,100 9 8,900 Interest Expense Interest Payable 8,900 10 7.100 Depreciation Expense Accumulated Depreciation 7,100 11 2,500 Unearned Professional Fees Professional Fees Earned 2,500 12 1,100 Insurance Expense Prepaid Insurance 1.100