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1. Mark: 6 Required: For each of the following items before adjustment, indicate the type of adjusting entry (prepaid expense unearned revenue, accrued revenue, and accrued expense) that is needed to correct the misstatement. If an item could result in more than one type of adjusting entry, indicate each of the types. (a) Assets are understated. (b) Liabilities are overstated. (C) Liabilities are understated. (d) Expenses are understated. (e) Assets are overstated. (1) Revenue is understated. Mark: 3 2. Required: The bookkeeper for ABC Company asks you to prepare the following accrued adjusting entries at December 31. 1. Interest on notes payable of $400 is accrued. 2. Services provided but not recorded total $1,500. 3. Salaries earned by employees of $900 have not been recorded. Use the following account titles: Service Revenue, Accounts Receivable, Interest Expense, Interest Payable, Salaries Expense, and Salaries Payable Mark: 4 The balance sheet debit column of the worksheet for Diaz Company includes the following accounts: Accounts Receivable $12,500; Prepaid Insurance $3,600; Cash $15,400; Supplies $5,200, and Short-term Investments $6,700. Required: Prepare the current assets section of the balance sheet, listing the accounts in proper sequence 3. Mark: 3 4. The ledger of Swann Company contains the following balances: D. Swann, Capital $30,000; D. Swann, Drawing $2,000; Service Revenue $50,000; Salaries Expense $27,000, and Supplies Expense $4,000. Required: Prepare the closing entries at December 31