1. On June 1, 20X1, Conner Company, a new firm, paid $4,300 rent in advance for a five-month period. The $4,300 was debited to the Prepaid Rent account. 2. On June 1, 20X1, the firm bought supplies for $7,250. The $7.250 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $2,950 were on hand. 3. On June 1, 20X1, the firm bought equipment costing $44,160. The equipment has an expected useful life of 8 years and no salvage value. The firm will use the straight-line method of depreciation. Prepare end-of-June adjusting entries for Conner Company. Journal entry worksheet < A B C Prepare the adjusting entry for prepaid rent. Note: Enter debits before credits. Transaction 1 Record entry General Journal Debit Credit Clear entry View general journal Journal entry worksheet < A B Prepare the adjusting entry for supplies. Note: Enter debits before credits. Transaction 2 Record entry General Journal Debit Credit Clear entry View general journal Journal entry worksheet < A B Prepare the adjusting entry for depreciation. Note: Enter debits before credits. Transaction 3 General Journal Debit Credit Record entry Clear entry View general journal >