1. On June 1, 2019, Cain Company, a new firm, paid $5,670 rent in advance for a seven-month period. The $5,670 was debited to the Prepaid Rent account. 2. On June 1, 2019, the firm bought supplies for $7,000. The $7,000 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $2,825 were on hand. 3. On June 1, 2019, the firm bought equipment costing $44,280. 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 Prepare the adjusting entry for prepaid rent. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal 1. On June 1, 2019, Cain Company, a new firm, paid $5,670 rent in advance for a seven-month period. The $5,670 was debited to the Prepaid Rent account. 2. On June 1, 2019, the firm bought supplies for $7,000. The $7,000 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $2,825 were on hand. 3. On June 1, 2019, the firm bought equipment costing $44,280. 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 2 3 > Prepare the adjusting entry for supplies. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal 1. On June 1, 2019, Cain Company, a new firm, paid $5,670 rent in advance for a seven-month period. The $5,670 was debited to the Prepaid Rent account. 2. On June 1, 2019, the firm bought supplies for $7,000. The $7,000 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $2,825 were on hand. 3. On June 1, 2019, the firm bought equipment costing $44,280. 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 Prepare the adjusting entry for depreciation. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Record entry Clear entry View general journal