lifesaver for correct answers 382176

LIFESAVER FOR CORRECT ANSWERS. Accounting: Identifying adjusting entries with explanations? For each of the following entries, enter 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 periods 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 periods use of a prepaid expense

H. To record payment of a prepaid expense

I. To record this periods depreciation expense

1. Rent Expense Dr: $2,000

Prepaid Rent Cr. $2,000

2. Interest Expense Dr. $1,000

Interest Payable Cr. $1,000

3. Depreciation Expense Dr. $4,000

Accumulated Depreciation Cr. $4,000

4. Unearned Professional Fees Dr. $3,000

Professional Fees Earned Cr. $3,000

5. Insurance Expense Dr. $4,200

Prepaid Insurance Cr. $4,200

6. Salaries Payable Dr. $1,400

Cash Cr. $1,400

7. Prepaid Rent Dr. $4,500

Cash Cr. $4,500

8. Salaries Expense Dr. $6,000

Salaries Payable Cr. $6,000

9. Interest Receivable Dr. $5,000

Interest Revenue Cr. $5,000

10. Cash Dr. $9,000

Accounts Receivable (from consulting) Cr. $9,000

11. Cash Dr. $7,500

Unearned Professional Fees Cr. $7,500

12. Cash Dr. $2,000

Interest Receivable Cr. $2,000