Chapter 3, Problem 2E

Classifying adjusting entries

P1 P2 P3 P4

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.	Interest Expense...............	2,208
	Interest Payable...........		2,208
__2.	Insurance Expense.............	3,180
	Prepaid Insurance.........		3,180
__ 3.	Unearned Professional Fees.....	19,250
	Professional Fees Earned ...		19,250
_ 4.	Interest Receivable.............	3,300
	Interest Revenue.........		3,300
_ 5.	Depreciation Expense ..........	33.217
	Accumulated Depreciation ..		38.217
__ 6.	Salaries Expense...............	13.280
	Salaries Payable ..........		13.280