1. On June 1,201, Conner Company, a new firm, paid $5,580 rent in advance for a six-month period. The $5,580 was debited to the Prepaid Rent account. 2. On June 1, 20X1, the firm bought supplies for $7,600. The $7,600 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $3,125 were on hand. 3. On June 1, 20X1, the firm bought equipment costing $63,600. 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. Journal entry worksheet Prepare the adjusting entry for prepaid rent. Note: Enter debits before credits, 1. On June 1, 20X1, Conner Company, a new firm, paid $5,580 rent in advance for a six-month period. The $5,580 was debited to the Prepaid Rent account. 2. On June 1, 20X1, the firm bought supplies for $7,600. The $7,600 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $3,125 were on hand. 3. On June 1, 20X1, the firm bought equipment costing $63,600. 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. Journal entry worksheet Note: Enter debits before credits. 1. On June 1, 20X1, Conner Company, a new firm, paid $5,580 rent in advance for a six-month period. T $5,580 was debited to the Prepaid Rent account. 2. On June 1,201, the firm bought supplies for $7,600. The $7,600 was debited to the Supplies accour An inventory of supplies at the end of June showed that items costing $3,125 were on hand. 3. On June 1,201, the firm bought equipment costing $63,600. The equipment has an expected usefu 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. Journal entry worksheet Prepare the adjusting entry for depreciation. Note: Enter debits before credits