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12. Before month-end adjustments are made, the January 31 trial balance of Rover Excursions contains revenue of $27.900 and expenses of $17,340. Adjustments are necessary

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12. Before month-end adjustments are made, the January 31 trial balance of Rover Excursions contains revenue of $27.900 and expenses of $17,340. Adjustments are necessary for the following items: Depreciation for January, $1,440 Portion of fees collected in advance earned in January, $3,3004 Portion of prepaid rent applicable to January, $2,7004 Fees eamed in January, not yet billed to customers, $1,9504 Net income for January is: a $10,560 b. $17,070 c. $7,770- d. Some other amount 13. Marietta Corporation uses a perpetual inventory system. All of its sales are made on account. The company sells merchandise costing $3,000 at a sales price of $4,300. In recording this transaction, Marietta will make all of the following entries except: a Credit Sales, $4,300.- b. Credit Inventory. $3,000.- c. Debit Cost of Goods Sold, $3,000.- d. Debit Accounts Receivable, $4,300

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