24. Wyatt Company prepares its statements on a quarterly basis. The company's accountant provided the following additional information for the previous quarter (April, May, and June). See the partial ledgertemplate for account names and balances.

1. (Read carefully!!) On June 15^th Wyatt Company signed a contract to do an advertising campaign for Jones Corporation, a client. Jones prepaid the $3500 fee to Wyatt. As of June 30, $300 of that amount has been earned.

2. Salaries owed to employees at the end of the month (June) total $1,700. The salaries will be paid on July 5^th.

3. A physical count of office supplies revealed $1,100 on hand on June 30. (The office supplies account in the trial balance shows $1,900.)

4. A six month insurance policy was purchased (and paid) in full on June 1 at a cost of $1800.00. One month (1/6) of that policy has expired as of June 30.

5. $900 of depreciation has been taken for the company truck during the quarter.

Instructions

1. Prepare the adjusting journal entries for the quarter ending on June 30th that should be made by Wyatt Company.

2. Calculate the balance of Unearned Advertising Revenue after the adjusting journal entry in transaction 1.

3. Calculate the balance of Prepaid Insurance after the adjusting journal entry in transaction 4.

PLEASE HELP ME ASAP

	Partial Ledger: Question 24
Prepaid Insurance 113
DATE	TRANSACTION	DEBIT	CREDIT	BALANCE
1-Jun		1,800		1,800
Supplies 114
DATE	TRANSACTION	DEBIT	CREDIT	BALANCE
Bal.		1,900		1,900
Truck 131
DATE	TRANSACTION	DEBIT	CREDIT	BALANCE
Bal			20,000	20,000
Accumulated Depreciation (Truck) 132
DATE	TRANSACTION	DEBIT	CREDIT	BALANCE
Unearned Advertising Revenue 212
DATE	TRANSACTION	DEBIT	CREDIT	BALANCE
15-Jun			3,500	3,500
Salaries Payable 213
DATE	TRANSACTION	DEBIT	CREDIT	BALANCE
Advertising Revenue 411
DATE	TRANSACTION	DEBIT	CREDIT	BALANCE
Insurance Expense
DATE	TRANSACTION	DEBIT	CREDIT	BALANCE
Supplies Expense
DATE	TRANSACTION	DEBIT	CREDIT	BALANCE
Depreciation Expense
DATE	TRANSACTION	DEBIT	CREDIT	BALANCE

DATE	GENERAL JOURNAL	POST REF	DEBIT	CREDIT