Following are two income statements for Alexis Co. for the year ended December 31. The left column is prepared before any adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. ALEXIS CO. Income Statements For Year Ended December 31 Unadjusted Adjusted Revenues Fees earned Commissions earned $24,000 $28,800 42,500 42.500 Total revenues Expenses Depreciation expense-Computers Depreciation expense-0ffice furniture Salaries exxpense $66,500 71,300 1, 200 1,400 12,500 14,460 1,040 4,500 Insurance expense Rent expense Office supplies expense Advertising expense Utilities expense Total expenses 4,500 384 3,000 3.000 1,250 21,250 1,306 27,290 Net incone $45,250 $44,010 Analyze the statements and prepare the eight adjusting entries that likely were recorded. (Note: 30 % of the $4,800 adjustment for Fees Earned has been earned but not billed, and the other 70 % has been earned by performing services that were paid for in advance.) View transaction list View journal entry worksheet No Date General Journal Credit Debit Accounts receivable Dec 31 4,000 search e