ACC2000 (OLS . 00 Week #2 Accounting Exercises ames ople Choud 5 who Consider the following transactions for Huskies Insurance Company Wikipedia 1. Income taxes for the year total $42,000 but won't be paid until next April 15 5 Wacebook Twiner Bing Goog TripAdar Mall Grace Cr Oreo Christian Uveiversity Tobouk Buber Lead Like Class ACC2025 MASTER F Help Save & Exit Submit Check my work A ock 2. On June 30, the company lent its chief financial officer $50,000; principal and interest at 7% are due in one year 3. On October 1, the company received $16.000 from a customer for a one-year property insurance policy. Deferred Revenue was credited on October 1 Required: Indicate by how much net income in the income statement is higher or lower if the adjusting entry is not recorded. (Donat round intermediate calculations) Traction Nat income 42.000 Lower 2 " 50.000 3 S 10,000gr Total 0