X Company, a merchandiser, prepares monthly financial statements. On April 30, its accountant made adjusting entries to record: . . . $5,917 of April interest on a bank loan to be paid in May $1,775 of wages that were earned by employees in April but to be paid in May $4,640 of rent and insurance for April that was prepaid on April 1 but had expired $3,534 of depreciation on factory equipment a $2,859 April utility bill received in April, to be paid in May . What would be the effect of these entries on total assets in April? OA: $-4,362|OB: $-5,104 OC: $-5,971 OD: $-6,986 OE: $-8,174 OF: $-9,564 Submit Answer Tries 0/99