During the year, prepaid expenses decreased $6,600, and accrued expenses increased $2,400. Indicate how the changes in

Question:

During the year, prepaid expenses decreased $6,600, and accrued expenses increased $2,400. 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.