Use the following to answer questions 910 On September t", the company received a $48,000 payment from a customer for services to be rendered evenly over the next six months. Deferred Revenue was credited on September 114 and no other entries regarding this transaction were made until December 31 st. 9. 5 After the adjusting entry has been recorded on December 31 , determine the ending balance the deferred revenue account that should be recorded on the December 31It Balance Sheet. 10. 5 After the adjusting entry has been recorded on December 31tt, determine the amount of service revenue that should be recognized for this customer on the annual income statement on December 31 st. Use the following to answer questions 11-12 and 7% interest to be paid when the note matures next year. A note payable was recognized on October 14 , and no other entries regarding this transaction were made until December 31 st. 11. $ that should be reported. 12. What effect would failure to record the adjusting entry for this note payable have on the financial statement items? A. would cause it to be overstated B. would cause it to be understated C. would have no effect Use the following to answer questions 1314 The company incurs employee salaries of $30,000 for the last week of December which will be paid on January 5 th. 13. Record the adjusting entry on December 31t* related to the employee calaries 14. $ Indicate by how much net income in the income statement is higher or lower if the adjustment in \#13 is not recorded (if lower put "-" in front of your answer)