3-3A Adjusting entries Milbank Repairs & Service, an elec trial balance at the end of its first year of operations: OBJ. 2, 3,4,5 tronics repair store, prepared the following unadjusted ger Milbank Repairs & Service Unadjusted Trial Balance June 30, 2019 Debit Balances Credit Balances Cash Accounts Receivable. Supplies Equipment. Accounts Payable ...10,350 67,500 .. . 166,100 15,750 18,000 171,500 Nancy Townes, Capital . . . 13,500 94,500 294,750 72,000 51,750 Miscellaneous Expense 500,000 500,000 For preparing the adjusting entries, the following data were assembled: . Fees earned but unbilled on June 30 were $7,380. * Supplies on hand on June 30 were $2,775 . Depreciation of equipment was estimated to be $11,000 for the year * The balance in unearned fees represented the June 1 receipt in advance for services to be provided. During June, $16,500 of the services were provided. Unpaid wages accrued on June 30 were $3,880. Instructions 1. Journalize the adjusting entries necessary on June 30, 2019. 2. Determine the revenues, expenses, and net income of Milbank Repairs & Service before the adjusting entries. 3. Determine the revenues, expenses, and net income of Milbank Repairs & Service after the adjusting entries. 4. Determine the effect of the adjusting entries on Nancy Townes, Capital