1. On June 1, 2021, Conner Company, a new firm, paid $16,800 rent in advance for a seven-month period. The $16,800 was debited to the Prepaid Rent account. 2. On June 1, 2021, the firm bought supplies for $12,580. The $12,580 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $9,275 were on hand. 3. On June 1, 2021, the firm bought equipment costing $108,000. The equipment has an expected useful life of 9 years and no salvage value. The firm will use the straight-line method of depreciation. Requirement Show less A General Journal General Ledger Trial Balance Income Statement St Owner Equity Balance Sheet Impact on Income 57% of available points General Journal tab - For transactions 1-3, review the unadjusted balance and prepare the adjusting entry necessary to correctly report the revenue eamed or the expense incurred. After adjusting the accounts, review the financial statements for accuracy. No input required-General Ledger tab- Each journal entry is posted automatically to the general ledger. Use the dropdown button to view the unadjusted or adjusted balances. No Input required Trial Balance tab - You may view either the unadjusted or adjusted trial balance by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs. No input required -Income Statement tab - Use the dropdown to select the statement type to be displayed (Unadjusted or Adjusted). The balances will appear for each account, based on your selection. No input required -Statement of Owner's Equity tab - The unadjusted or adjusted balances will appear for each account, based on your selection. No input required -Balance Sheet tab - Use the dropdown to select the statement type to be displayed (Unadjusted or Adjusted). The balances will appear for each account, based on your selection. 43% of available points - Impact on Income tab - For each adjustment, indicate the income statement and balance sheet account affected, and the impact on net income. If an adjustment caused net income to decrease, enter the amount as a negative value.