Instructions 1. Journalize the six adjusting entries required at November 30, based on the data presented. What would be the effect on the income statement if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year? What would be the effect on the balance sheet if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year? What would be the effect on the "Net increase or decrease in cash" on the statement of cash flows if the adjustments for equipment depreciation and unearned fees were omitted at the end of the year?
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