X Company prepares monthly financial statements. On January 1, a customers paid X company $38,400 in advance for cleaning services to be performed during the following three months, once in January, once in February, and once in March. What will be the result of the January 31 adjusting entry on X Company's financial statement? A $12,800 decrease in the Retained Earnings account on the Balance Sheet revenue of $12,800 reported on the Income Statement a $12,800 decrease in the Cash account on the Balance Sheet a $12,800 increase in the Cash account on the Balance Sheet a Si2,800 increase in the Deferred Revenue account on the Balance Sheet a balance of $12,800 in the Deferred Revenue account on the Balance Sheet X Company prepares annual financial statements. On January 1, 2012. it purchased a machine for $76,000. Its estimated useful life was 4 years and its estimated disposal value in 4 years was $10,000. Using straight-line depreciation, what is the adjusting entry on December 31, 2015? Equipment and Paid-In Capital both decrease by $19,000 Equipment and Retained Earnings both decrease by $49,500 Equipment and Paid-In Capital both decrease by $16,500 DO Equipment and Retained Earnings both increase by $49,500 Equipment and Retained Earnings both decrease by $16,500 Equipment and Retained Earnings both decrease by $19,000