Econo Company, an electronics repaid store, prepared the unadjusted trial balance shown below at the end of its first year of operations.

For preparing the adjusting entries, the following data were assembled:a. Fees earned but unbilled on April 30 were $10,000.b. Supplies on hand on April 30 were $8,150.c. Depreciation of equipment was estimated to be $13,800 for the year.d. The balance in unearned fees represented the April 1 receipt in advance for services to be provided. Only $19,000 of the services was provided between April 1 and April 30.e. Unpaid wages accrued on April 30 were $1,770.Instructions1. Journalize the adjusting entries necessary on April 30, 2012.2. Determine the revenues, expenses, and net income of Econo company before the adjusting entries.3. Determine the revenues, expense, and net income of Econo Company after the adjusting entries.4. Determine the effect on retained earnings of the adjustingentries.

Econo Company Unadjusted Trial Balance April 30, 2012 Debit Credit Balances Balances Cash. 13,800 ........ Accounts Receivable. 90,000 .................... ....................... ......... 21,600 Suppies.. .............................................................. Equipment.... Accounts Payable. Unearned Fees. Capital Stock Retained Earnings. 454,800 .......................................... .......... 21.000 ............................ ...................... 24,000 .......*...................... 55,000 .................. ..................... 257.000 ....... ......... ............. Diwidends 18,000 ...................... ........... ....... lees tarned.. Wages Expense 543,000 126,000 96,000 Rent Expense Utilities Expense **.. 69,000 .......... ..... Miscellaneous Eapense 10,500 ....... .............. ............... 900,000 900,000