For journal entries 1 through 10, identify the explanation that mostly closely describes it.
A. To record this period's depreciation expense.
B. To record accrued salaries expense.
C. To record this period's use of a prepaid expense.
D. To record accrued interest revenue.
E. To record accrued interest expense.
F. To record the earning of previously unearned income.
G. To record cash receipt of unearned revenue.
H. To record cash payment of an accrued expense.
I. To record cash receipt of an accrued revenue.
J. To record cash payment of a prepaid expense.
Explanation
Journal Entries
Debit
Credit
Cash 12,300
Accounts Receivable (from services) 12,300
Prepaid Rent 500
Cash 500
Depreciation Expense 38,217
Accumulated Depreciation 38,217
Interest Receivable 3,300
Interest Revenue 3,300
Interest Expense 2,208
Interest Payable 2,208
Unearned Revenue 19,250
Services Revenue 19,250
Salaries Expense 13,280
Salaries Payable 13,280
Insurance Expense 3,180
Prepaid Insurance 3,180
Cash 4,200
Unearned Revenue 4,200
Accounts Payable 1,700
Cash 1,700
