QS 3-15 Recording and analyzing adjusting entries LO A1 Adjusting entries affect at least one...
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Accounting
QS 3-15 Recording and analyzing adjusting entries LO A1
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 records prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts.
To record Janitorial expense incurred but not yet paid.
To record Rent expense incurred but not yet paid.
To record Interest expense incurred but not yet paid.
To record expiration of prepaid rent.
To record supplies used as supplies expense.
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