Business, 20.06.2020 22:57 lyssa128

QS 3-15 Recording and analyzing adjusting entries LO P1, P2, P3, P4 Adjusting entries affect at least one balance sheet account and at least one income statement account. For the entries below, identify the account to be debited and the account to be credited. Indicate which of the accounts is the income statement account and which is the balance sheet account. Assume the company recorded prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. a. Entry to record revenue earned that was previously received as cash in advance. b. Entry to record wage expenses incurred but not yet paid (nor recorded). c. Entry to record revenue earned but not yet billed (nor recorded). d. Entry to record expiration of prepaid insurance. e. Entry to record annual depreciation expense.

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QS 3-15 Recording and analyzing adjusting entries LO P1, P2, P3, P4 Adjusting entries affect at leas...

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