Problem # 9(15 points) Buena Vista Social Club accumulates the following adjustment data at December 31 1. Revenue of $1,100 collected in advance has been earned. 2. Salaries of $600 are unpaid 3. Prepaid rent totaling $500 has expired. 4. Supplies of $450 have been used 5. Revenue earned but unbilled total $750. 6. Utility expenses of $200 are unpaid 7. Interest of $300 has accrued on a note payable. Instructions (a) For each of the above items indicate 1. The type of adjustment (prepaid expense, unearned revenue, accrued revenue? or accrued expense) 2. The 3. The 4. The adjusting entry account relationship (asset/liability, liability/revenue, etc.) status of account balances before adjustment (understatement or overstatement) Prepare your answer in the tabular form presented below. Account Balances Before Adjustment (Understatement or Overstatement) Type of Adjustment Account Relationship Example Depreciation on equipment for $400 was not recorded Depreciation Expense Answer to Question Accrued Expense Asset/Expense Asset Overstated Expense UnderstatedAccum Depreciation