Questions 7 and 8 refer to the following entries: X Company prepares monthly financial statements. On October 31, its accountant made adjusting entries to recognie $5,623 of unpaid interest expense on a bank loan $1,369 of wages that were earned by employees but not paid $3,674 of rent and insurance that had expired . $7,832 of depreciation What was the effect of these entries on Retained Earnings in October? Ad S-5912 8 pt FO EO$18,498 24.602 DOS. 13.90s BO$-7,863 s.10,4s7 8pts What was the effect of these entries on total equities in October? 8 pt x Company prepares monthly financial statements. The company recelved its bill from the utility compasy in it wa, paid. As a result, which of the following is true regarding July w did not pay it until July, Its accountant failed to record the utility expense in June, but instead recorded it 1) total assets on June 30