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At the end of the year, Company X completes the necessary adjusting entries for each of the following situations: 1. The unadjusted trial balance
At the end of the year, Company X completes the necessary adjusting entries for each of the following situations: 1. The unadjusted trial balance for supplies is $140, however a physical count suggests that only $18 remain. 2. A loan has accrued interest expense of $74. The interest will be paid next year. 3. Performed services of $67 and billed the customer, expecting to be paid next month. 4. The unadjusted trial balance for deferred revenue is $600, however the company determines that it now only owes $150 of the services. 5. The unadjusted trial balance for prepaid insurance was $300, but the company determines the proper balance is $119. What total effect do the adjusting entries above have on the company's assets? Enter your answers as positive if assets increase and negative if assets decrease.
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