For journal entries, indicate the letter of the explanation that most closely describes it in the space beside each entry. You can use letters more than once. To record receipt of unearned revenue.
To record this period's earning of prior unearned revenue.
To record payment of an accrued expense.
To record receipt of an accrued revenue.
To record an accrued expense.
To record an accrued revenue.
To record this period's use of a prepaid expense.
To record payment of a prepaid expense.
To record this period's depreciation expense.

Explanation Journal entries Debit Credit
Insurance expense 1900
Prepaid Insurance 1900

Salaries payable 3900
Cash 3900

Prepaid Rent 3200
Cash 3200

Salaries expense 4900
Salaries payable 4900

Interest Receivable 1900
Interest Revenue 1900

Cash 3900
Accounts Receivable 3900

Cash 5900
Unearned Professional Fees 5900