1. LESSON 9-2 Prepaid Expenses
7/21/2019
LESSON 9-2
Prepaid Expenses
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2. SUPPLIES INITIALLY RECORDED AS AN ASSET
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1. Debit the expense account.
2. Credit the asset account.
LESSON 9-2

3. SUPPLIES INITIALLY RECORDED AS AN EXPENSE
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1. Debit the asset account.
2. Credit the expense account.
LESSON 9-2

4. REVERSING ENTRY—SUPPLIES INITIALLY RECORDED AS AN EXPENSE
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1. Debit the expense account.
2. Credit the asset account.
LESSON 9-2

5. PREPAID INSURANCE INITIALLY RECORDED AS AN EXPENSE
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1. Debit the asset account.
2. Credit the expense account.
LESSON 9-2

6. REVERSING ENTRY FOR PREPAID INSURANCE
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1. Debit the expense account.
2. Credit the asset account.
LESSON 9-2

7. TERMS REVIEW
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prepaid expenses
reversing entry
LESSON 9-2