For journal entries 1 through 12, indicate the explanation that most closely describes it. You can use explanations more than once.

A. To record payment of a prepaid expense.

B. To record this period’s use of a prepaid expense.

C. To record this period’s depreciation expense.

D. To record receipt of unearned revenue.

E. To record this period’s earning of prior unearned revenue.

F. To record an accrued expense.
G. To record payment of an accrued expense.
H. To record an accrued revenue.
I. To record receipt of accrued revenue.

Transcribed Image Text:

1. Interest Receivable.. Interest Revenue 2. Salaries Payable.... Cash.... 3. Depreciation Expense Accumulated Depreciation. 4. Cash....... Unearned Revenue 5. Insurance Expense.... Prepaid Insurance 6. Interest Expense ... Interest Payable... 3,500 9,000 8,000 9,000 4,000 5,000 3,500 9,000 8,000 9,000 4,000 5,000 7. Cash... Accounts Receivable (from services). 8. Salaries Expense Salaries Payable 9. Cash....... Interest Receivable 10. Prepaid Rent. Cash.... 11. Rent Expense Prepaid Rent 12. Unearned Revenue Services Revenue LARE ***** 1,500 7,000 1,000 3,000 7,500 6,000 1,500 7,000 1,000 3,000 7,500 6,000