In class exercise The Blue Chip Co. prepared the following income statement for December 31, 2009 but neglected to make the necessary adjusting entries. The Blue Chip Co Income Statement For the Year ending December 31, 2009 Revenues $96,400 Expenses $16,480 4,320 560 Telephone Expense Utility Ex Profit Required: Prepare adjusted journal entries(either revenues or expenses) for the following and a corrected income statement: (1.) The company had purchased a truck for $4,800 on January 1, 2009 which was expected to last 5 years. It was originally debited to the account "Truck" and credited to cash. (depreciation) (2.) The company provided a one-month maintenance service started from Dec. 15, 2009 for a fee of $1,000. The service has not yet billed. The payment will be received at the end of the maintenance. (3.) The company owed S640 in accrued interest which was to be paid early in January, 2010.(revenue) ember, 2009 the company had received $3,600 of advance payments which were originally recoraUnearned Revenue. One-third of this was earned in December, 2009. 4-60