The account balances appearing on the trial balance (below) were taken from the general ledger of Flip's Copy Shop at June 30, 2012.

Additional information for the month of June which has not yet been recorded in the accounts is as follows:

(a) A physical count of supplies indicates $300 on hand at June 30.

(b) The amount of insurance that expired in the month of June was $200.

(c) Depreciation on equipment for June was $400.

(d) Rent owed on the copy shop for the month of June was $600 but will not be paid until July.

Instructions:

Prepare in journal form, without explanations, the end of month adjusting entries & closing entries for Flip's Copy Shop for the month of June.

Flip's Copy Shop Trial Balance Notes Payable Flip's Capital Flip's Drawings Service Revenue Utilities Expense Totals For the Month Ended June 30, 2012 Debit $1,000 1,100 2,200 24,000 Account Titles Cash Supplies Prepaid Insurance Equipment Accum. Depreciation Equipment Accounts Payable 2,400 400 $31.100 Credit $4,500 2,400 4,000 15,300 4,900 $31.100