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Present the adjustment transaction in a journal

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Reference no: EM132432193

Question - Type of adjustment Classify the following items as (1) prepaid expense, (2) unearned revenue, (3) accrued revenue, or (4) accrued expense:

a. Cash received for use of land next month.

b. Fees earned but not received in cash.

c. Wages owed but not yet paid.

d. Supplies on hand.

Instructions: Present the adjustment transaction in a journal. Indicate the type of adjustment that is carried out and present the daily transaction that is recorded with the situation.

Reference no: EM132432193

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