Question

The following accounts were taken from the unadjusted trial balance of Legislative Results Inc., a congressional lobbying firm. Indicate whether or not each account would normally require an adjusting entry. If the account normally requires an adjusting entry, use the following notation to indicate the type of adjustment:To illustrate, the answer for the first account follows:________.AR—Accrued Revenue Normally requires adjustment (AR).AE—Accrued ExpenseUR—Unearned RevenuePE—Prepaid Expense

Answer 1

Answer:

Note: The full question is attached below

Accounts Receivable - Normally requires adjustment (AR)

Cash - Does not normally require adjustment

Capital - Does not normally require adjustment

Interest Expense - Normally requires adjustment (AE)

Interest Receivable - Normally requires adjustment (AR)

Land - Does not normally require adjustment

Office Equipment - Does not normally require adjustment

Prepaid Rent - Normally requires adjustment (PE)

Supplies - Normally requires adjustment (PE)

Unearned Fees - Normally requires adjustment (UR)

Wages Expense - Normally requires adjustment (AE)