X Company, a merchandiser, prepares monthly financial statements. On April 30, its accountant made adjusting entries to record: $5,889 of April interest on a bank loan to be paid in May $1,845 of wages that were earned by employees in April but to be paid in May $4,960 of rent and insurance for April that was prepaid on April 1 but had expired $3,579 of depreciation on factory equipment a $2,912 April utility bill received in April, to be paid in May a shipment of products in April for which customers paid $1,170 in March 6. What would be the effect of these entries on total assets in April? A: $-6,687 B: $-7,557 OC: $-8,539|| OD: $-9,649 OE: $-10,903 OF: $-12,321 Submit Answer Tries 0/99 7. What would be the effect of these entries on total liabilities in April? OA: $3,108 B: $4,507 OC: $6,535 OD: $9,476 OE: $13,740|| OF: $19,923 Submit Answer Tries 0/99