Problem 3-1A

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PLEASE HELP

For each of the following entries, enter the letter of the explanation that most closely describes it in the space beside each entry. (You can use letters more than once.) A. To record receipt of unearned revenue. B. To record this period's earning of prion E. To record an accrued expense. F. To record an accrued revenue. G. To record this period's use of a prepaid expense. unearned revenue. C. To record payment of an accrued expense.H. To record payment of a prepaid expense. D. To record receipt of an accrued revenue. I. To record this period's depreciation expense. Interest Expense 1,000 Interest Payable 1,000 2. Depreciation Expense 4,000 4,000 3. Unearned Professional Fees 3,000 Professional Fees Earned 3,000 Insurance Expense Prepaid Insurance 4,200 5. Salaries Payable 6. Prepaid Rent 7. Salaries Expense 1,400 Cash 1.400 4,500 Cash 4,500 Salaries Payable 6,000 8. Interest Receivable 5,000 Interest Revenue 5,000 9. Cash 9,000 Accounts Receivable (from consulting 9,000 10. Cash 7,500 7.500 1 Cash 2,000 Interest Receivable 2.000 12. Rent Expense 2,000 Prepaid Rent