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X Company, a merchandiser, prepares monthly financial statements. On April 30, its accountant made adjusting entries to record: $5,858 of April interest on a bank

X Company, a merchandiser, prepares monthly financial statements. On April 30, its accountant made adjusting entries to record:

  • $5,858 of April interest on a bank loan to be paid in May
  • $1,767 of wages that were earned by employees in April but to be paid in May
  • $4,910 of rent and insurance for April that was prepaid on April 1 but had expired
  • $3,720 of depreciation on factory equipment
  • a $2,959 April utility bill received in April, to be paid in May

What would be the effect of these entries on total assets in April?

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