During the year, prepaid expenses decreased $6,500, and accrued expenses increased $2,000. Indicate how the changes in

Question:

During the year, prepaid expenses decreased $6,500, and accrued expenses increased $2,000. Indicate how the changes in prepaid expenses and accrued expenses payable should be entered in the reconciling columns of a worksheet. Assume that beginning balances were prepaid expenses $18,600 and accrued expenses payable $8,200.