1. On June 1, 2019, Cain Company, a new firm, paid $4,150 rent in advance for a five-month period. The $4,150 was debited to the 2. On June 1, 2019, the firm bought supplies for $7,100. The $7,100 was debited to the Supplies account. An inventory of supplies at 3. On June 1, 2019, the firm bought equipment costing $41,280. The equipment has an expected useful life of 8 years and no salvage Prepaid Rent account. the end of June showed that items costing $2,875 were on hand. 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 Prepare the adjusting entry for prepaid rent. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal