Adjusting Entries Milbank Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: Milbank Repairs & Service Unadjusted Trial Balance June 30, 2019 Debit Balances Credit Balances Cach 13,800 Accounts Receivable Supplies 91,610 22,070 519,140 Equipment Accounts Payable 21,520 24,280 374,000 Unearned Fees Nancy Townes, Capital Nancy Townes, Drawing 18,210 551,870 Fees Eamed Wages Expense 128,030 97,680 70,090 Rent Expense Utilities Expense Miscellaneous Expense 11,040 971,670 971,670 For preparing the adjusting entries, the following data were assembled: Fees earned but unbilled on June 30 were $9,990. Supplies on hand on June 30 were $8,160. Depreciation of equipment was estimated to be $13,800 for the year. The balance in unearned fees represented the June 1 receipt in advance for services to be provided. During June $19,180 of the services was provided. Unpaid wages accrued on June 30 were $1,770. Required: 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. Revenues Expenses Net Income 3. Determine the revenues, expenses, and net income of Milbank Repairs & Service after the adjusting entries. Revenues Expenses Net Income 4. Determine the effect of the adjusting entries on Nancy Townes, Capital Nancy Townes, Capital by $