Exercise 3-1 (E3-1) 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.
C. To record this period's use of a prepaid expense.
F. To record the earning of previously unearned income.
Exercise 3-1 (E3-1) 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.
For each of the following entries, enter the letter of the explanation that most closely describes it in the space beside each entry.