balanced day adjustment journals

Des owns and operates Kayak Kingdom a retail business specialising in the sale of both new and second hand Kayaks. As part of his business Des sends a quarterly newsletter about Kayaking to customers who sign up as Members of Kayak Kingdom. Des has asked you to prepare the year end journals for the business. He has sent the following information to you for the year ended 30 June 2021:

1. Accrued telephone bill at 30 June 2021 was $1 840.

2. Membership Revenue account had a credit balance of $322 100. Included in this amount was $1 680 for services to be provided in July 2021.

3. At the end of the year, the business had an outstanding long-term loan of $50 000. Interest of 10% p.a. is payable half-yearly on this loan, every 1 April and 1 October. The last interest payment made by the business was on 1 April 2021.

4. The Motor Vehicle account has a debit balance of $60 000. The vehicle was purchased on 1 January 2021 and has an estimated useful life of 5 years and an estimated residual value of $10,000.

5. A physical count of office supplies on hand at 30 June gives a total of $780. The Office Supplies account has a debit balance of $3 920.

Required:

Prepare the end-of-period adjusting entries required on 30 June 2021. Clearly show your calculations. Correct formatting (including narrations) is required.