What amount will jb report for net income

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Problem 1: JB Company had net income of $100,000 for the year before adjusting entries. If the following adjustments are necessary, what amount will JB report for net income?

Interest accrued on a note payable, $5,000
Office supplies used, $2,000
Services performed for clients but not recorded, $10,000
Interest accrued on a note receivable, $1,000
Rent expired, $3,000
One-half of a $12,000 cash advance for future services was earned during the year

Reference no: EM132689412

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