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adjusting entries Prepare only the adjusting entries for the month of June based on the following information: 1. Equipment costing $48,000 has an estimated useful

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Prepare only the adjusting entries for the month of June based on the following information: 1. Equipment costing $48,000 has an estimated useful life of 4 years with no estimated value at the end of 4 years. 2. A loan of $36,000 was taken out on June 1st. The loan is to be repaid in 24 months including interest at 5% annually. 3. $1,350 of office supplies was purchased during June; at the end of June $840 of supplies were still on hand. 4. A business insurance policy had been renewed on January 1st and the annual premium in the amount of $3,300 was paid in full when the policy was renewed in January. 5. Salaries earned by employees at the end of June amounted to $1,950, these salaries are due for payment on July 1s

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