AY. Write your answer in the space provided or on a separate sheet of paper. 1) During December 2018, April Service Company performed $1,500 of services, but as of December 31, 2018, the dlients have effect on assets, liabilities, equity, and net income. not yet been billed. If April fails to make an adjusting entry on December 31, 2018, indicate the Understated, Overstated, No Effect Assets Liabilities Equity Net Income 2) On October 1, 2019 Ranger Service Company paid S5,000 in rent for the next five months, beginning with October 2019. On that date, Ranger debited Prepaid Rent and credited Cash. If Ranger fails to make an adjusting entry on December 31, 2019, indicate the effect on assets, liabilities, equity, and net income. Understated, Overstated, No Effect Assets Liabilities Equity Net Income employees the following Monday (January 4) for the previous full week. Assume that the company has a five-day workweek and has an unadjusted balance in Salaries Expense of $845,000 at December 31. Prepare the January 4 journal entry. Reversing entries are not made. 3) Armstrong Services has a weekly payroll of $50,000. December 31 falls on Thursday and Armstrong will pay its