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21 January, 10:00

Unadjusted net income equals $ 8,500. Calculate what net income will be after the following adjustments:

(1) Salaries payable to employees, $ 550

(2) Interest due on note payable at the bank, $ 90

(3) Unearned revenue that has been earned, $ 900

(4) Supplies used, $ 205

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  1. 21 January, 10:16
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    adjusted net income 8,555

    Explanation:

    unadjusted net income 8,500

    earned revenue 900

    salaries expense (550)

    interest expense (90)

    supplies expense (205)

    adjusted net income 8,555

    The salries are considered expense,

    the interest due are the interest accrued in a note payable

    the supplies used are the supplies expense

    the unearned revenue beomes earned through time adn by, providing services. It increase the total reveneu for the period.
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