1. On June 1, 20X1, Conner Company, a new firm, paid $5,940 rent in advance for a six-month period. The $5,940 was debited to the Prepaid Rent account. 2. On June 1, 20X1, the firm bought supplies for $7,900. The $7,900 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $3,275 were on hand. 3. On June 1, 20X1, the firm bought equipment costing $70.800. The equipment has an expected useful life of 10 years and no salvage value. The firm will use the straight-line method of depreciation. Prepare end-of-June adjusting entries for Conner Company. View transaction list Journal entry worksheet < A Prepare the adjusting entry for prepaid rent. Note: Enter debits before credits. Transaction General Journal Debit 1 Rent expense 990 Prepaid rent Credit 990 1. On June 1, 20X1, Conner Company, a new firm, paid $5,940 rent in advance for a six-month period. The $5,940 was debited to the Prepaid Rent account. 2. On June 1, 20X1, the firm bought supplies for $7,900. The $7,900 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $3,275 were on hand. 3. On June 1, 20X1, the firm bought equipment costing $70,800. The equipment has an expected useful life of 10 years and no salvage value. The firm will use the straight-line method of depreciation. Prepare end-of-June adjusting entries for Conner Company. View transaction list Journal entry worksheet B Prepare the adjusting entry for supplies. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Supplies expense Supplies 4,625 4,625 1. On June 1, 20X1, Conner Company, a new firm, paid $5,940 rent in advance for a six-month period. The $5,940 was debited to the Prepaid Rent account. 2. On June 1, 20X1, the firm bought supplies for $7,900. The $7,900 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $3.275 were on hand. 3. On June 1, 20X1, the firm bought equipment costing $70,800. The equipment has an expected useful life of 10 years and no salvage value. The firm will use the straight-line method of depreciation. Prepare end-of-June adjusting entries for Conner Company. View transaction list Journal entry worksheet < C Prepare the adjusting entry for depreciation. Note: Enter debits before credits Transaction General Journal Debit Credit 3 Depreciation expense-Equipment Accumulated depreciation-Equipment b >