Exercise 3-4 (Static) Classifying adjusting entries LO P1, P2, P3, P4 For journal entries 1 through 6, identify the explanation that most 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. Explanation Journal Entries Interest Expense Debit Credit 2,208 Interest Payable 2,208 Insurance Expense 3,180 Prepaid Insurance 3,180 Unearned Revenue 19,250 Services Revenue 19,250 Interest Receivable 3,300 Interest Revenue 3,300 Depreciation Expense 38,217