This is a 2-part question.

Part 1) Journalize the adjusting entries below at year-end December 31, XXXX. Please share your supporting calculations for the adjusting entries requiring computations.

(a) The unadjusted balance of the Supplies account is $2,200. The total cost of supplies remaining is $1,000.

(b) Accrued Service Revenue of $9,000.

(c) Equipment was purchased at the beginning of the year for $45,000. The equipment's useful life is 5 years, and the residual value is $5,000. Record the depreciation for this year.

(d) The weekly payroll is $25,000. Employees are owed for 3 days of a 5-day work week.

(e) Beginning unearned service revenue is $7,500, and ending unearned service revenue is $3,500.

(f) The business has interest expense of $750 that is due in January.

Part 2) Calculate the overall overstatement or understatement of net income if the above adjusting entries were not made.

Please share your work.