Question

an accountant made the following adjustments at december 31, the end of the accounting period: requirement 1. journalize the adjusting entries. (record debits first, then credits. exclude explanations from any journal entries.) a. prepaid insurance, beginning, $500. payments for insurance during the period, $2,000. prepaid insurance, ending, $400. b. interest revenue accrued, $2,500. c. unearned service revenue, beginning, $1,700. unearned service revenue, ending, $300.

Explanation:

Step1: Record interest revenue accrued

When interest revenue is accrued, we debit an asset account (Interest Receivable) and credit Interest Revenue.
Debit: Interest Receivable 2500
Credit: Interest Revenue 2500

Answer:

Accounts	Debit	Credit
Interest Revenue		2500