Describe the adjusting entries,including the accounts used,for 1)prepaid expenses,2)depreciation and 3)unearned revenues.

1)Prepaid expenses are deferrals,or expenses paid for in advance.The adjusting entry credits a prepaid expense account and debits an expense account.2)Depreciation is the recognition of the decline in usefulness of plant and equipment assets.The adjusting entry for depreciation debits an expense account and credits accumulated depreciation.3)Unearned revenues represent cash collected in advance for products or services.The adjusting entry for unearned revenues debits the unearned revenue account and credits a revenue account.