Exercise 3-8 Analyzing and preparing adjusting entries LO P5 Following are two income statements for Alexis Co. for the year ended December 31 The left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. The company records cash receipts and payments related to uneared and prepaid items in balance sheet accounts. Inco Statenents For Tear Ended December 3! Adjusted 134,000 330.000 Les Fees are Commissions earned Total reves 10,500 Depreciation peuters Depreciation expens-office furniture Thurance pense Rest expense office supplies espe Advertising expense Drilicies expense 1.450 4300 0 4 500 0 1.000 1.000 Analyze the statements and prepare the seven adjusting entries that likely were recorded. Hint Entry for a refers to fees that have been eamed but not yet billed. None of the entries involve cash View transaction that How journal entry worksheet Event General Journal Debit Credit 2 1 a 1.900 Accounts receivable Fees samed 1.960 2 Interest earned Fees earned 4.820 4,820 Depreciation expense - Computers Accumulated depreciation Computers 1650 1.650 d Depreciation expense-Office lumiure Accumulated depreciation Office furniture 1925 1905 5 2.696 27895 6 1 Insurance expense Prepaid insurance 7 9 520 528