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For journal entries 1 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. Entry Credit Debit 1,600 1 1,600 2 4,400 4,400 3 3,800 3,800 4 5,000 5,000 2,000 2,000 6 4,900 CO Explanation Journal Entries Uneamed Revenue Services Revenue Insurance Expense Prepaid Insurance Salaries Payable Cash Prepaid Rent Cash Salaries Expense Salaries Payable Interest Receivable Interest Revenue Cash Accounts Receivable (from consulting) Cash Unearned Revenue Cash Interest Receivable Rent Expense Prepaid Rent Interest Expense Interest Payable Depreciation Expense Accumulated Depreciation 4,900 7 6,400 6,400 6,000 CO 6,000 8,600 9 8.600 7,000 10 7,000 1,400 11 1,400 1,200 12 1200
For journal entries 1 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. Entry Credit Debit 1,600 1 1,600 2 4,400 4,400 3 3,800 3,800 4 5,000 5,000 2,000 2,000 6 4,900 CO Explanation Journal Entries Uneamed Revenue Services Revenue Insurance Expense Prepaid Insurance Salaries Payable Cash Prepaid Rent Cash Salaries Expense Salaries Payable Interest Receivable Interest Revenue Cash Accounts Receivable (from consulting) Cash Unearned Revenue Cash Interest Receivable Rent Expense Prepaid Rent Interest Expense Interest Payable Depreciation Expense Accumulated Depreciation 4,900 7 6,400 6,400 6,000 CO 6,000 8,600 9 8.600 7,000 10 7,000 1,400 11 1,400 1,200 12 1200
Here is the explanation forjournal entries1 through 12, with the corresponding account affected:Thejournal entriesEntry Credit Debit Explanation Account Affected1 1,600 1,600 To record receipt of unearned revenue. Unearned Revenue2 4,400 4,400 To record this period's earning of prior unearned revenue. Services Revenue3 3,800 3,800To record an accrued expense. Salaries Expense4 5,000 5,000 To record payment of a prepaid expense. Prepaid Rent5 2,000 2,000 To record this period's use of a prepaid expense. Rent Expense6 4,900 COTo record payment of an accrued expense.Salaries Payable7 6,400 6,400 To record payment of a prepaid expense. Prepaid Insurance8 6,000 CO To record an accrued revenue. Interest Receivable9 8,600 8,600 To record receipt of an accrued revenue. Interest Revenue10 7,000 7,000To record this period's depreciation expense.Depreciation Expense11 1,400 1,400 To record receipt of an accrued revenue. Accounts Receivable12 1,200 1,200 To record this period's interest expense. Interest ExpenseRead more aboutjournal entrieshere:brainly.com/question/28390337#SPJ2...