Jindabine Boat Ltd stores and cleans boats for customers. It is completing the account process for the year just ended 30 June 2016. The transactions during 2016 have been journalised and posted. The following data with respect to adjusting entries is available:
1. Jindabine cleaned three boats for customers at the end of June, but did not record the service for $2700.
2. On 1 May 2016, Jindabine paid $1200 to the local newspaper for an advertisement to run each Thursday for 12 weeks. All ads have been run except for three Thursdays in July to complete the 12-week contract.
3. Jindabine borrowed $250 000 at 12 percent annual interest rate on 1 November 2016 to expand its storage facility. The loan requires Jindabine to pay the interest quarterly until the note is repaid in two years. Jindabine paid quarterly interest on 1 February and 1 May.
4. Jindabine received $4500 on 1 June 2016 to store a sailboat for winter until 1 November 2017. Jindabine credited the full amount to Unearned storage revenue on 1 June.
5. Jindabine's boat-lifting equipment cost $220 000; $22 000 was the estimated depreciation in 2016.
6. Boat-repair supplies on hand at 1 July 2015 totalled $16 500. Repair supplies purchased debited to Supplies on hand during the year amounted to $46 000. The year-end count showed $12 400 of supplies on hand.
7. Wages earned by employees during June 2016, unpaid and unrecorded at 30 June 2016, amounted to $3800. The next payroll date will be 5 July 2016.
Prepare the adjusting entries that should be recorded for Jindabine at 30 June 2016.