Adjustment for Unearned Revenue On August 1, 20Y1, Newhouse Co. received $41,220 for the rent of land for 12 months. Journalize the adjusting entry required for unearned rent on December 31, 20Y1. Round your final answer to the nearest dollar amount. If an amount box does not require an entry, leave it blank. Dec. 31 Unearned Rent Rent Revenue 2 3 Adjustment for Prepaid Expense The supplies account had a beginning balance of $6,300 and was debited for $3,400 for supplies purchased during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of supplies on hand is $4,170. If an amount box does not require an entry, leave it blank. Supplies Expense Supplies Effect of Omitting Adjustments For the year ending August 31, Beckinworth Medical Co. mistakenly omitted adjusting entries for (1) depreciation of $6,100, (2) fees earned that were not billed of $11,900, and (3) accrued wages of $4,500. Indicate the effect of the errors on (a) revenues, (b) expenses, and (c) net income for the year ended August 31. (a) Revenues understated (b) Expenses understated (c) Net income understated