Question: Classifying types of adjustments Classify the following items as ( a ) accrued revenue, ( b ) accrued expense, ( c ) unearned revenue, or

Classifying types of adjustments
Classify the following items as (a) accrued revenue, (b) accrued expense, (c) unearned revenue, or (d) prepaid expense:
Line Item Description Classification
1. Interest earned but not yet received.
2. Wages owed but not yet paid.
3. Fees received but not yet earned.
4. Rent paid in advance.
5. Tuition received in advance by a college.
6. Supplies on hand.
7. Expenses owed but payable in the following period.
8. Utilities owed but not yet paid.

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