Following are two income statements for Kendis Co. for the year ended December 31. The left column is prepared before any adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. Analyze the statements and prepare the eight adjusting entries that likely were recorded. {Note: 30% of the $6,000 adjustment for Fees Earned has been earned but not billed, and the other 70% has been earned by performing services that were paid for in advance.)

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Revenues KENDIS CO. Income Statements For Year Ended December 31 Unadjusted Adjusted Fees earned.. $24,000 $30,000 Commissions earned 42,500 42,500 Total revenues 66,500 72,500 Expenses Depreciation expense-Computers. 0 1,500 Depreciation expense-Office furniture 0 1,750 Salaries expense 12,500 14,950 Insurance expense 0 1,300 Rent expense. 4,500 4,500 Office supplies expense 0 480 Advertising expense 3,000 3,000 Utilities expense 1,250 1,320 Total expenses Net income 21,250 28,800 $45,250 $43,700