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Before month-end adjustments are made, the February 28 trial balance of Coles Enterprise contains revenue of $11,000 and expenses of $8,900. Adjustments are necessary for
Before month-end adjustments are made, the February 28 trial balance of Coles 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 earned but not yet billed is $2,800. | ||
Accrued interest expense is $900. | ||
Revenue collected in advance that is now earned is $2,500. | ||
Portion of prepaid insurance expired during February is $500. |
Calculate the correct net income for Cole's Enterprise for the month end.
Net income | $______ |
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