Prepaid expenses :For when prepaid expense has been made and adjustments have to be made.
Debit- expense
Credit- asset (prepaid thing)
Depreciation: For when asset is bought and adjustments have to be made
Remember: (cost-residual value)/life value or the straight line method
Debit -depreciation expense
Credit- Accumulated Depreciation
Unearned Revenue: For when unearned revenue has been earned.
Debit-Unearned Revenue
Credit- Revenue
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