I need answer for question E3-20A

a acounting, what amount of total expense should Nicholson Network re- port for 2016? Which accounting principle helps to answer this question? c. Redo parts a and b using the cash basis. Explain how the accrual basis differs from the cash basis. d. Which financi al statement reports revenues and expenses? Which statement reports cash receipts and cash payments? E3-20 A. (Learning Objectives 1, 3: Explain how accrual accounting differs from cash-basis accounting; adjust the accounts) An accountant made the following adjustments at December 31, the end of the accounting period: a. Prepaid insurance, beginning, $300. Payments for insurance during the period, $2,900 Prepaid insurance, ending, $600. b. Interest revenue accrued, $2,400. c. Unearned service revenue, beginning, $1,600. Unearned service revenue, ending, $300. d. Depreciation, $5,500 e. Employees' salaries owed for two days of a five-day work week; weekly payroll, $13,000. f. Income before income tax, $20,000. Income tax rate is 35% Requirements 1. Journalize the adjusting entries. 2. Suppose the adjustments were not made. Compute the overall overstatement or understat ment of net income as a result of the omission of these adjustments. E3-21A. (Learning Objectives 2, 3: Apply the revenue and expense recognition principles en or situations 1 and 2, iournalize the djust the accounts) Rankle Corporation experienced four situations for its supplies. C