ABC Company is preparing for its year end at June 30, 2021. Note, that prepaid expenses are initially recorded in asset accounts, and that fees collected in advance of work preformed are initially recorded as liabilities. Using the information below, prepare the June 30, 2021 year end adjusting journal entries. Be sure to include dates. No explanations needed. Round to 2 decimal places. Account Debit $ Credit $ Prepaid Insurance 12,000 Office Supplies 950 Notes Payable 10,000 a) Furniture costing $5,000 was purchased on April 1, 2021 for cash. It will be used by the business for 4 years (48 months) and is estimated to have a salvage value of $1,000 at the end of the 4 years. Record the depreciation expense for the year ended June 30, 2021. The company uses the straight-line depreciation method. b) The balance in Prepaid Insurance represents 12 months of insurance effective May 1, 2021. c) The Office Supplies were counted on June 30, 2021 and revealed that $500 remained unused. d) The utility bill for $150 was received but was unpaid at year end. e) On April 1, 2020 the business signed a long-term notes payable of $10,000 with an interest rate of 5%. The loan and accrued interest is payable on March 31, 2022. Record the entry to accrue the interest at year-end. f) Subsequent entry. Record the entry needed when the utility bill for $150, from part d above, was paid on July 5. 2021 iii E DE 1 A B I T: FE Adjusting Journal Entries Date Account Title Debit $ Credit $ June 30