for the following situations indicate whether each involves a d 248423

For the following situations, indicate whether each involves a deferred expense (DE), a deferred revenue (DR), an accrued liability (AL), or an accrued asset (AA).

Example: __DE__ Office supplies purchased in advance of their use

___________ 1. Wages earned by employees but not yet paid

___________ 2. Cash collected from subscriptions in advance of publishing a magazine

___________ 3.Interest earned on a customer loan for which principal and interest have not yet been collected

___________ 4. One year’s premium on life insurance policy paid in advance

___________ 5. Office building purchased for cash

___________ 6. Rent collected in advance from a tenant

___________ 7. State income taxes owed at the end of the year

___________ 8. Rent owed by a tenant but not yet collected

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