Chapter 4, Problem 3ME

Matching Definitions with Terms

Match each definition with its related term by entering the appropriate letter in the space provided.

Definition	Term
____ (1) At year-end. service revenue of $ 1.000 was collected in cash but was not yet earned.	A. Accrued expense
B. Deferred expense
____ (2) Interest of $550 on a note receivable was earned at year-end, although collection of the interest is not due until the following year.	C. Accrued revenue
D. Deferred revenue
____ (3) At year-end, wages payable of $5,600 had not been recorded or paid.
____ (4) Office supplies were purchased during the year for $700, and $100 of them remained on hand (unused) at year-end.