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lizing adjusting entries and analyzing their effect on the income E3 28 Journa statement The following data at July 31, 2016, are given for XYZ
lizing adjusting entries and analyzing their effect on the income E3 28 Journa statement The following data at July 31, 2016, are given for XYZ a. Depreciation, $400. b. Prepaid rent expires, $800. c. Interest expense accrued, $600. d. Employee salaries owed for Monday through Thursday of a five-day worlswerk weekly payroll, $13,000. e. Unearned revenue earned, $1,600. E Office supplies used, $100. Requirements I. Journalize the adjusting entries needed on July 31, 2016. 2. Suppose the adjustments made in Requirement 1 were not ma de. Compute the overstatement or understatement of net income as a result of the omissi of these adjustments
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