Buena Vista Social Club Accumulates the Following Adjustment Data at December

Buena Vista Social Club accumulates the following adjustment data at December 31.
1. Revenue of $1600 collected in advance has been recognized.
2. Salaries of $600 are unpaid.
3. Prepaid rent totaling $500 has expired.
4. Supplies of $450 have been used.
5. Revenue recognized but unbilled total $750.
6. Utility expenses of $250 are unpaid.
7. Interest of $300 has accrued on a note payable.
Instructions
(a) For each of the above items indicate:
1. The type of adjustment (prepaid expense unearned revenue accrued revenue or accrued expense).
2. The account relationship (asset/liability liability/revenue etc.).
3. The status of account balances before adjustment (understatement or overstatement).
4. The adjusting entry.
(b) Assume net income before the adjustments listed above was $15500. What is the adjusted net income?
Prepare your answer in the tabular form presented below. $\begin{array} { c c c c } & & \begin{array} { c } \text { Account Balances } \\\text { Before Adjustment } \\\text { (Under statement }\end{array} & \\\begin{array} { c } \text { Type of }\end{array} & \text { Account } & \text { Or Over statement) } & \text { Adjusting Entry } \\\hline\end{array}$