ACE Inc. on June 30, 2017, includes the following selected accounts before adjusting entries.

Accounts	Debit	Credit
Supplies	2,500
Equipment	30,000
Account Payable		10,000
Note Payable		40,000

Also, an analysis of the accounts shows the following additional information. Prepare adjusting entries for the month of June. (If no entry is required in the Debit or Credit column, put "0" or "No Entry")

1. Supplies on hand total $1,500.
2. The equipment depreciates $400 per month.
3. A few days ago, ConEdison's electricity bill of $300 for the month of June was received of which payment date is July 10th. The Company named "Utility Expense" for ConEdison's electricity usage.
4. Note Payable was for $30,000 borrowing from a local bank on June 1 by signing a 3-year promissory note with 12%.

No.	Accounts		Dr.	Cr.
1
2
3
4