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Before month-end adjustments are made, the February 28 tabular summary of Cole's Enterprise contains revenue of $11,000 and expenses of $8,900. Adjustments are necessary for

image text in transcribed Before month-end adjustments are made, the February 28 tabular summary of Cole's Enterprise contains revenue of $11,000 and expenses of $8,900. Adjustments are necessary for the following items: - Depreciation for February is $1,200 - Revenue recognized but not yet billed is $2,800 - Accrued interest expense is $900 - Revenue collected in advance that is now recognized is $2,500 - Portion of prepaid insurance expired during February is $500 Calculate the correct net income for Cole's Enterprise for February 3. Net income / (loss) \$ Attempts: 0 of 1 used

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