Help Save & E Exercise 3-5 Analyzing and preparing adjusting entries LO P1, P3 Following are two income statements f adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to u statement effect of the eight adjusting entries a through g (the balance sheet part of the entries is not shown here) or Alexis Co. for the year ended Dec nearned and prepaid items in balance sheet accounts. The middle column shows a blank space for each income Income r Year Ended 31 $24,000 42,500 $30,600 42,500 73,100 66,500 Expenses tion 1,925 12,500 4,500 3,000 Salaries 1,430 4,500 3,000 29.555 1,250 Total expenses $45,250 Analyze the statements and prepare the eight adjusting entries a through g that likely were recorded. Note: Answer for a has two entries 30% of () the S6.600 adjustment for Fees Earned has been earned but not billed, and (ii) the other 70% has been earned by performing services that were paid for in advance. Journal entry worksheet View transaction list Journal entry worksheet Record the adjusting entry for accrued revenues. Transaction al Clear entry View general journal Record entry View transaction list Journal entry worksheet 2 3 6 Record the adjusting entry related to fees collected in advance. Note: Enter debits before credits Tra on General Journal a2. View general journal Record entry Clear entry View transaction list Journal entry worksheet 5 6 7 8 Record depreciation on computers. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Clear entry View general journal Record entry View transaction list Journal entry worksheet 2 3 5 6 7 8 Record depreciation on office furniture. Note: Enter debits before credits. General Journal Debit C, View general journal Record entry Clear entry View transaction list ournal entry worksheet ook 2 4 6 7 8 ences Record the adjusting entry related to salaries. Note: Enter debits before credits. Transaction General Journal Debit Credit d. Vlew general journal Clear entry Record entry oints View transaction list Journal entry worksheet 2 eBook 4 7 8 References Record the adjusting entry related to insurance. Note: Enter debits before credits Transaction General Journal Debit Credit e. Record entry Clear entry View gener View transaction list Journal entry worksheet eBook 2 4 6 References Record the adjusting entry related to office supplies. Note: Enter debits before credits. Transaction General Journal Debit Credit View gener Record entry Clear entry view tFanstion list Journal entry worksheet 2 6 References Record the adjusting entry related to utilities. Note: Enter debits before credits Transaction General Journal Debit Cre g. View ge Record entry Clear entry