Reference no: EM131528305

Question: In the blank space beside each adjusting entry, enter the letter of the explanation A through F that most closely describes the entry.

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.

1. Salaries Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,280 Salaries

Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,280

2. Interest Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,208

Interest Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,208

3. Insurance Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,180

Prepaid Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,180

4. Unearned Professional Fees . . . . . . . . . . . . . . . . . . . . . . . . . 19,250

Professional Fees Earned . . . . . . . . . . . . . . . . . . . . . . . 19,250

5. Interest Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,300

Interest Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,300

6. Depreciation Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38,217

Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . . 38,217