For Each of the Following Transactions,indicate the Amounts and Direction

question 50

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For each of the following transactions,indicate the amounts and direction of effects of the adjusting entry on the elements of the balance sheet and income statement.Using the following format,indicate + for increase,and - for decrease,and NE for no effect.
Transactions:

A.Wages of $5,800 have been earned, but not paid to employees at the end of the year.
B.Supplies in the amount of $2,000 were used during the year, which are currently recorded in the office supplies inventory account.
C.Interest has accrued on a bank loan.

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Definitions:

Real Wages

Salaries recalibrated based on inflation rates to indicate the real value of earnings in terms of buying capacity.

Real Wages

Salaries recalibrated to account for inflation, indicating the actual buying capability of earnings.

Income Earned

Refers to all forms of compensation or remuneration received from employment, including wages, salaries, bonuses, and other earnings.

Hourly Minimum Wage

The lowest legal wage that can be paid to workers for an hour of employment.