A physical inventory showed that only $292.00 worth of office supplies remained on hand as of June 30. The annual interest rate on the mortgage payable was 8.25 percent. Interest expense for one-half month should be computed because the building and land were purchased and the liability incurred on June 16. Record a journal entry to reflect that one half month's insurance has expired. A review of Bytes job worksheets show that there are unbilled revenues in the amount of $5,375 for the period of June 28-30. The fixed assets have estimated useful lives as follows: Building - 31.5 years Computer Equipment - 5.0 years Office Equipment - 7.0 years Use the straight-line method of depreciation. Management has decided that assets purchased during a month are treated as if purchased on the first day of the month. The buildings scrap value is $8,000. The office equipment has a scrap value of $450. The computer equipment has no scrap value. Calculate the depreciation for one month. A review of the payroll records show that unpaid salaries in the amount of $516.00 are owed by Byte for three days, June 28 - 30. Ignore payroll taxes. The note payable to Royce Computers (transactions 04 and 07) is a five-year note, with interest at the rate of 12 percent annually. Interest expense should be computed based on a 360 day year. [IMPORTANT NOTE: The original note on the computer equipment purchased on June 2 was $124,000.00. On June 10, eight days later, $23,750.00 was repaid. Interest expense must be calculated on the $124,000.00 for eight days. In addition, interest expense on the $100,250.00 balance of the loan ($124,000.00 less $23,750.00 = $100,250.00) must be calculated for the 20 days remaining in the month of June.]