Net 1 When the income statement was prepared, the company accountant neglected to take into consideration the following nformation pertaining to adjusting entries (i.e., the accountant forgot to journalize and post the following adjusting Wet incorne When the incorme starament was prepared, the corripany accountant noglected to taks into contideriwion the tellowing 1. A utility biaf for $2,800 was recoived on the fast day of the month for nectric and gas rervice used in the morath of surve. The bill will be paid on July 15 . 2. The academy collected $24,000 cash for a number of 10 -clasi punch cards nold to custerners in June. These 10 cians punch cards atlow afudents to attend 10 classes at a discounted prico. Management estimates that by Jume 30,25% of these punch-cards have been 'ounched' (mearing that the revenue has been earned rince out instructors have taught 3. Supplies on harid at the beginnirig of the month wore $3.000. The acaderny purchared additional supplies turing the morith for $4,000 in cash and $2,600 of supplies were on hand at dune 30 . 4. The academy purchased a now ear at the beginning of the month for 831,000 cash. The car han a talyage vahue of S4, 000 and an estimated useful life of 3 years. The academy uses straight-line mothod. 5. Salaries owed to employees (darice instructors) at the end of the month totai $6,100. This correspondu to clasees haugh by instructors during the month of June. The salaries will be paid on July 5. In a scrap piece of paper, journalize and post the pertinent adjusting entries to update the accounts, and construct an ccurate income statement: In The Heighite Darice actaderfy Inceme statament Reveriuos For the Month Ended June 30 Sales revenue Expenses Salaries and wages expense Supplied expense Rent expense. Depreciation expense Utilities expense Advertising expense. Suppllas expanto Rent expense. Deprociation expenso Utilities axpense Advertising expense. Total oxponses. Net incorne