Before month-end adjustments are made, the February 28 trial balance of Neutral Milk Hotel contains revenue of $7,000 and expenses of $4,400. Adjustments are necessary for the following items:
.Depreciation for February is $1,800.
.Revenue recognized but not yet billed is $2,700.
.Accrued interest expense is $700.
.Revenue collected in advance that is now recognized is $2,500.
.Portion of prepaid insurance expired during February is $400.
Instructions
Calculate the correct net income for Neutral Milk Hotel's Income Statement for February.

Question

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The Answer of Before month-end adjustments are made, the February 28 trial balance of Neutral Milk Hotel contains revenue of $7,000 and expenses of $4,400. Adjustments are necessary for the following items:
.Depreciation for February is $1,800.
.Revenue recognized but not yet billed is $2,700.
.Accrued interest expense is $700.
.Revenue collected in advance that is now recognized is $2,500.
.Portion of prepaid insurance expired during February is $400.
Instructions
Calculate the correct net income for Neutral Milk Hotel's Income Statement for February.

Before Month-End Adjustments Are Made, the February 28 Trial Balance