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Zonked Industries has the following information related to its adjusting entries at the end of December. On December 31, 2010, the insurance expired amounted to

Zonked Industries has the following information related to its adjusting entries at the end of December. On December 31, 2010, the insurance expired amounted to $100. Of the unearned revenue, $335 of services had been performed. What is the net effect of the two adjusting entries on Zonkeds net income?

$435 increase.

$235 increase.

$435 decrease.

$235 decrease.

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