Chapter 4, Problem 3PB

Identify which type of adjustment is indicated by these transactions. Choose accrued revenue, accrued expense, deferred revenue, or deferred expense.

A. fees earned and billed, but not collected

B. recorded depreciation expense

C. fees collected in advance of services

D. salaries owed but not yet paid

E. property rentals costs, prepaid for future months

F. inventory purchased for cash