X Company, a merchandiser, prepares monthly financial statements. On April 30, its accountant made adjusting entries to record: $5,774 of April interest on a bank loan to be paid in May $1,850 of wages that were earned by employees in April but to be paid in May $4,695 of rent and Insurance for April that was prepaid on April 1 but had expired $3,720 of depreciation on factory equipment a $2,973 April utility bill received in April, to be paid in May What would be the effect of these entries on total liabilities in April? A: $10,597 B: $13,246 C: $16,558 D: $20,697 E: $25,872 F: $32,339 Submit Answer Tries 0/99