The Downtown Company accumulates the following adjustment data on December $31.$

Revenue of $$1,100$ collected in advance has been recognized.

Salaries of $$600$ are unpaid.

Prepaid rent totaling $$400$ has expired.

Supplies of $$550$ have been used.

Revenue recognized but unbilled totals $$750.$

Utility expenses of $$300$ are unpaid.

Interest of $$250$ has accrued on a note payable.

$($a$)$

For each of the above items indicate:

The type of adjustment $($prepaid expense, unearned revenue, accrued revenue, or accrued expense$).$

The account relationship $($asset$/$liability$,$ liability$/$revenue$,$ etc.$).$

The status of account balances before adjustment $($understatement or overstatement$).$

The adjustment. Indicate the change in each account affected $($Increase or Decrease$),$ the account title of each account

affected, and the amount.

Prepare your answer in the tabular form. $($For account relationship, understatement or overstatement and adjustment list Revenue or

Expense before Asset or Liability.$)$