Discuss the below:
Q: Before month end adjustments are made, the September 30 trial balance of Horton Enterprise contains revenue of $9,200 and expenses of $6,300. Adjustments are necessary for the following items:
a. Depreciation for September is $300
b. Revenue earned but not yet billed is $2,100
c. Accrued interest expense is $800
d. Revenue collected in advance that is now earned is $3,400
e. Portion of prepaid insurance expired during September is $300
Calculate the correct net income for Horton's Enterprise for September