Barch Adjusting Entries Milbank Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operation Milbank Repairs & Service Unadjusted Trial Balance Cash June 30, 2014 Debit Balances 14,150 Credit Balances Accounts Receivable 03,980 Supplies Equipment 22.650 538,000 Accounts Payable 22,000 Unearned Fees i 24910 Nancy Towns, Capital 300,000 Nancy Townes, Drawing 16.800 Fees Earned Wages Expense 331.350 Rent Expense Unibes Expense 300,230 71.800 11.320 9 DAE 725 PM Utilities Expense Miscellaneous Expense 71,900 11,320 1,003,140 1,000,140 For preparing the adjusting entries, the following data were assembled Fees earned but unbilled on June 30 were $10,240. Supplies on hand on June 30 were $8,360. Depredation of equipment was estimated to be $14,150 for the year. The balance in unearned fees represented the June 1 receipt in advance for services to be provided. During June, $10,000 of the services were provided. Unpaid wages accrued on June 30 were $1.810. Required: 1. Journalize the adjusting entries necessary on June 30, 2014. If an amount box does not require an entry, Mave it blank 2014 June 301 50 e 30 25PM SUF AD eading 1. Journalize the adjusting entries necessary on June 30, 2014. 2014 June 30 30 30 30 100 00 00 00 00 an amount box does not require an entry, leave it blank 2. Determine the revenues, expenses, and net income of Mitack Repairs & Service before the adjusting enbes Revenues: Expenses Net income 3. Determine the revenues, expenses, and net income of pairs & Service after the acting wres 725 Revenues Expenses Net income: Ses, and Het Ricome of Albank Repairs & Service before the adjusting entries. 3. Determine the revenues, expenses, and net income of Milbank Repairs & Service after the adjusting entries. Revenues Net income 4. Determine the effect of the adjusting entries on Nancy Townes, Capital. Enter the amount as positive numbers. Expenses Nancy Townes, Capital NO by 5 All work saved. Previous Next Submit Test for Grading 56F 40 725 PM 2/15/2022