Mc Graw connect Problem 3-1A Identifying adjusting entries with explanations P1 P2 P3 P4 For journal entries / through 12, indicate the explanation that most closely describes it. You can use explanations more than once. A. To record receipt of unearned revenue. B. To record this period's earning of prior unearned revenue. C. To record payment of an accrued expense. D. To record receipt of an accrued revenue. E. To record an accrued expense. F. To record an accrued revenue. G. To record this period's use of a prepaid expense. H. To record payment of a prepaid expense. 1. To record this period's depreciation expense. 1. Interest Expense 1,000 Interest Payable 1,000 2. Depreciation Expense 4,000 Accumulated Depreciation 4,000 3. Unearned Revenue 3,000 Services Revenue 3,000 4. Insurance Expense 4,200 Prepaid Insurance 4,200 ord this period's use of a prepaid expense. ord payment of a prepaid expense. ord this period's depreciation expense. 1. Interest Expense 1,000 Interest Payable 1,000 2. Depreciation Expense: 4,000 Accumulated Depreciation 4,000 3. Unearned Revenue 3,000 Services Revenue 3,000 4. Insurance Expense 4,200 Prepaid Insurance 4,200 5. Salaries Payable 1,400 Cash 1,400 6. Prepaid Rent 4,500 Cash 4,500 7. Salaries Expense 6,000 Salaries Payable 6,000 8. Interest Receivable 5,000 Interest Revenue 5,000 6 9. Cash 9,000 Accounts Receivable (from consulting) 9,000 10. Cash 7,500 Unearned Revenue 7,500 11. Cash 2,000 Interest Receivable 2,000 12. Rent Expense 2,000 Prepaid Rent 2,000