1. On June 1, 20X1, Conner Company, a new firm, paid $6,580 rent in advance for a seven-month period. The $6,580 was debited to the Prepaid Rent account. 2. On June 1, 20X1, the firm bought supplies for $7,650. The $7,650 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $3,150 were on hand. 3. On June 1, 20X1, the firm bought equipment costing $58,320. 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 Conner Company. View transaction list Journal entry worksheet Prepare the adjusting entry for prepaid rent. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal Journal entry worksheet Prepare the adjusting entry for supplies. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 Record entry Clear entry View general journal Journal entry worksheet Prepare the adjusting entry for depreciation. Note: Enter debits before credits. General Journal Debit Credit Transaction 3 Record entry Clear entry View general journal