Adjusting Journal Entries

What type of adjusting entry, if any, would be needed for utilities incurred but not yet recorded?

• accrued revenue

• accrued expense

• deferred revenue

• deferred expense

• no adjusting entry

What type of adjusting entry, if any, would be needed for revenues earned, but the cash was previously collected in advance?

• accrued revenue

• accrued expense

• deferred revenue

• deferred expense

• no adjusting entry

What type of adjusting entry, if any, would be needed when a vendor is paid on an A/P balance due?

• accrued revenue

• accrued expense

• deferred revenue

• deferred expense

• no adjusting entry

What type of adjusting entry, if any, would be needed when office supplies previously recorded as an asset are used?

• accrued revenue

• accrued expense

• deferred revenue

• deferred expense

• no adjusting entry

What type of adjusting entry, if any, would be needed when cash is collected from a customer for payment on the customer's A/R balance?

• accrued revenue

• accrued expense

• deferred revenue

• deferred expense

• no adjusting entry

What type of adjusting entry, if any, would be needed for fees earned but not yet collected or recorded?

• accrued revenue

• accrued expense

• deferred revenue

• deferred expense

• no adjusting entry

What type of adjusting entry, if any, would be needed when an insurance expense is incurred but was paid in a previous period?

• accrued revenue

• accrued expense

• deferred revenue

• deferred expense

• no adjusting entry

What type of adjusting entry, if any, would be needed when salaries are owed to employees but have not been paid or recorded?

• accrued revenue

• accrued expense

• deferred revenue

• deferred expense

• no adjusting entry

What type of adjusting entry, if any, would be needed when goods are sold to a customer but the customer has not paid and the sale has not been recorded?

• accrued revenue

• accrued expense

• deferred revenue

• deferred expense

• no adjusting entry

What type of adjusting entry, if any, would be needed when goods are sold to a customer for cash?

• accrued revenue

• accrued expense

• deferred revenue

• deferred expense

• no adjusting entry