1. On June 1, 2019, Cain Company, a new firm, paid $5,880 rent in advance for a seven-month period. The $5,880 was debited to the Prepaid Rent account. 2. On June 1, 2019, the firm bought supplies for $7,150. The $7,150 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $2,900 were on hand. 3. On June 1, 2019, the firm bought equipment costing $47.520. The equipment has an expected useful life of 9 years and no salvage value. The firm will use the straight-line method of depreciation. Prepare end-of-June adjusting entries for Cain Company. View transaction list Journal entry worksheet