7 Timele 10039 Quinte wed of Finish utton Question 4 Adjusting entries (2.5 marks) GST IS NOT APPLICABLE IN THE FOLLOWING TRANSACTIONS 30 June $20,000 of Depreciation of equipment is to be recorded as the amount used for the year 30 June Interest (GST free) revenue of $57,000 earned but not yet received or recorded 30 June: $50,000 of consultation fees previously received in advance from clients has now been earned le. provided to the clients 30 June: Interest expense accrued on bank loan is $54,000 (GST free) but has not been paid 30 June: $32,000 of prepaid rent has now expired. Required: Record the adjustments above at 30 June. Narrations are not required. Webc A B 1 ! % PA U x x