Following are two income statements for Alexis Co. for the year ended December 31. The left column is prepared before any adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. Analyze the statements and prepare the eight adjusting entries that likely were recorded. (30% of the $7,000 adjustment for Fees Earned has been earned but not billed, and the other 70% has been earned by performing services that were paid for inadvance.)

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ALEXIS CO Income Statements For Year Ended December 31 Unadjusted Adjusted Revenues Fees earned Commissions earned lotal revenuesOAIAL $25,000 36,50036,500 61,500 $18,000 $54,500 Expenses Depreciation expense Computers Depreciation expense Office furniture Salaries expense Insurance expense Rent expense Office supplies expense. Advertising expense Utilities expense Total expenses 1,600 1,850 15,750 1,400 3,800 580 2,500 1,335 28,815 $32,685 13,500 3,800 . 2,500 1,245 21,045 $33,455 Net income