During the year, a company recorded prepayments of expenses in asset a

During the year, a company recorded prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. At the end of its annual accounting period, the company must make three adjusting entries: (1) Accrue rent expense, (2) Accrue wages expense, and (3) Record salaries expense incurred for which the cash was paid in advance. For each of these adjusting entries (1), (2), and (3), indicate the account to be debited and the account to be creditedfrom a through i below.Rent ExpenseAccrued RentWages expenseWages payableSalaries expensePrepaid salariesIntangible assetsCurrent assetsLong-term investmentsAdjusting entries:1. Accrue rent expense.2. Accrue wages expense.3. Record salaries expense incurred for which the cash was paid in advance.

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During the year, a company recorded prepayments of expenses in asset a

During the year, a company recorded prepayments of expenses in asset accounts, and cash receipts of unearned revenues in liability accounts. At the end of its annual accounting period, the company must make three adjusting entries: (1) Accrue rent expense, (2) Accrue wages expense, and (3) Record salaries expense incurred for which the cash was paid in advance. For each of these adjusting entries (1), (2), and (3), indicate the account to be debited and the account to be creditedfrom a through i below.Rent ExpenseAccrued RentWages expenseWages payableSalaries expensePrepaid salariesIntangible assetsCurrent assetsLong-term investmentsAdjusting entries:1. Accrue rent expense.2. Accrue wages expense.3. Record salaries expense incurred for which the cash was paid in advance.

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