For each of the following entries, enter the letter of the explanation that most closely describes it in the space beside each entry. To record payment of a prepaid expense. To record this period's use of a prepaid expense. To record this period's depreciation expense. To record receipt of unearned revenue.
To record this period's earning of prior unearned revenue. To record an accrued expense. To record payment of an accrued expense. To record an accrued revenue. To record receipt of an accrued revenue.
