problem 3-2

You order a leather jacket from Aritzia online. You submit your and receive the shipment in 14 days. Tussends your cell phone bull for the month of March. Your bill shows the invoice date as a and the payment is due April 15, 2020 c. The Toronto Transit Commission (TTC) sells monthly bus passes. The September busca purchased in August. The bus nasa then novides access to the TTC in September b. On July Mean be c. Ona Mean Required 1. Por Des 2. Po Exel Spli Exercise 3-2 Identifying adjusting entries L04 For each entry (1) to (12) helm enter the letter of the explanation that describes it in the blank space left. You can use some letters more than once. a. To record depreciation expense. b. To record an accrued expense. c. To record the use of a prepaid expense. d. To record accrued revenue. e. To record the earning of previously unearned revenue. f. Not an adjusting entry 1. Depreciation Expense...... 7. Insurance Expense.................. 6,000 Accumulated Depreciation ..... Prepaid Insurance. - 2. Uneamed Professional Revenue... & Salaries Payable............ 1,500 Professional Revenue............ Cash..... 3. Rent Expense 9. Cash Prepaid Rent Unearned Professional Revenue 4. Interest Expense..... - 10. Cash Interest Payable.... Interest Receivable.... _5. Prepaid Rent..... 11. Interest Receivable. 7,000 Interest income. Cash 6. Salaries Expense 5,000 - 12. Cash Salaries Payable 5,000 Accounts Receivable... 8.000 Exercise 3-3 Preparing adjusting entries (annual)-prepaid expense L04