wconnecthtm ships AwaAdministrative felloA Classification o

w/connect.htm ships & AwaAdministrative felloA Classification of Sc G Real Estate Licensin Health Administratic a Becoming a Classro Saved Help Event Prepaid expenses reflect transactions when cash is paid Accrued revenues reflect transactions when cash is received Unearned revenues reflect transactions when cash is received Accrued expenses reflect transactions when cash is paid Activity Type select select select select submit answer& continue

Solution

Solution:

1

before the related expense is recognized

2

after the related revenue is recognized

3

before the related expense is recognized

4

after the related revenue is recognized

Explanation:

Prepaid expenses are the items for whose payment are done in advance of receiving their benefits. These are assets and adjusting entries includes debiting expenses and crediting assets.

Unearned revenues are the advance receipt of cash for providing products and services. These are liabilities and adjusting entries includes crediting revenues and debiting unearned revenues.

Accrued expenses are costs incurred in a period that are both unrecorded as well as unpaid. Adjusting entries includes debiting expenses and crediting liabilities.

Accrued revenues are revenues earned in a period that are both unrecorded as well as not yet received in cash. Adjusting entries includes debiting assets and crediting revenues

1	before the related expense is recognized
2	after the related revenue is recognized
3	before the related expense is recognized
4	after the related revenue is recognized