Question 1: [4K] On Friday of every week, Icky Company pays its employees salaries amounting to $72,000 for a five-day work week. a) Prepare the adjusting entry(s) at year end, assuming December 31 falls on a Tuesday. b) Prepare the journal entry for Icky Company's payment of salaries on Friday, January 3rd of the next year. Question 2: [6K] Sam Salad Company purchased a delivery truck on August 1, 2020 for $38.000, paying $8.000 cash and signing a 5%, two-year note for the remaining balance, interest to be paid at maturity. The truck is expected to have a six-year useful life. Sam Salad Company prepares annual year-end financial statements. Instructions (a) Prepare the general journal entry to record the acquisition of the delivery truck on August 1. (b) Prepare any adjusting journal entries that should be made on December 31st 2020 Question 3: [8A, 5T] Before any adjusting entries were prepared at December 31. Kearns Company's ledger accounts showed revenue of $900,000 and expenses $800,000, indicating a net income of $100,000. The following adjusting entries were then made: i) Insurance expired during the year, $4.000 11) Salaries owed to employees for work after the regular payday in December $10,000 111) Unrecorded revenue: Fees earned but not yet recorded or billed to clients as of December 31, $1,000 iv) Office supplies used during the year, $6,000 v) Depreciation of office equipment, $2,000 vi) Interest accrued on note payable, $3,000 vii) Unearned Revenue account showed a balance of $12,000. The accountant for Kearns Company determined that $7,000 of this amount had been earned. a) Journalize the adjusting entries b) Calculate the revised net income after the necessary adjustments