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Brief Exercise 4-3 Cortina Company accumulates the following adjustment data at December 31. Indicate (1) the type of adjustment (prepaid expense, accrued revenue, and so

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Brief Exercise 4-3 Cortina Company accumulates the following adjustment data at December 31. Indicate (1) the type of adjustment (prepaid expense, accrued revenue, and so on) and (2) the status of the accounts before adjustment (overstated or understated). (Enter you enswers in alphabetical order.) Item Type of Adjustment Accounts Before Adjustment (a) Supplies of $400 are on hand. Supplies account shows $1,600 balance (b) Services performed but unbilled total $700. (c) Interest of $300 has accumulated on a note payable (d) Rent collected in advance totaling $1,100 has been earned. Unearned Revenues LINK TO TE Prepaid Expenses Accrued Revenues Accrued Expenses Question Attempts: o of 3 used SAVE FOR LATER Cortina Company accumulates the following adjustment data at December 31 Indicate (1) the type of adjustment (prepaid expense, accrued revenue, and so on) and (2) the status of the accounts before adjustment (overstated or understated). (Enter yo answers in alphabetical order.) Item Type of Adjustment Accounts Before Adjustment (a) Supplies of $400 are on hand. Supplies account shows $1,600 balance (b) Services performed but unbilled total $700. (c) Interest of $300 has accumulated on a note payable (d) Rent collected in advance totaling $1,100 has been earned LINK 10 TEXT Cortina Company accumulates the following adjustment data at December 31 Indicate (1) the type of adjustment (prepaid expense, accrued revenue, and so on) and (2) the status of the accounts before adjustment (overstated or understated).(Enter your answers in alphabetical order.) Item (a) Supplies of $400 are on hand. Supplies account shows $1,600 balance. Type of Adjustment Expenses Overstated Liabilities Understated Expenses Understated Assets Overstated Revenues Overstated Assets Understated Revenues Understated Liabilities Overstated (b) Services performed but unbillied total $700 (c) Interest of $300 has accumulated on a note payable. (d) Rent collected in advance totaling $1,100 has been earned

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