1.JB Company had net income of $100,000 for the year before adjusting entries. If the following adjustments are necessary, what amount will JB report for net income?

• Interest accrued on a note payable, $5,000
• Office supplies used, $2,000
• Services performed for clients but not recorded, $10,000
• Interest accrued on a note receivable, $1,000
• Rent expired, $3,000
• One-half of a $12,000 cash advance for future services was earned during the year