Cactus Company's annual accounting year ends on June 30 . Assume it is now June 30 and all of the entries except the following adjusting joumal entries have been made: a. The company eamed service revenue of $3,500 on a special job that was completed June 29. Collection will be made during July. no entry has been recorded. b. On March 31, Cactus paid a six-month premium for property insurance in the amount of $4.700 for coverage starting on that date. Cash was credited and Prepald insurance was debited for this armount c. At June 30, wages of $2,400 were eamed by employees but not yet paid. The employees will be paid on the next payroll date, which is July 15. d. On June 1, Cactus collected two months' revenue of $600. At that date, Cactus debited Cash and credited Deferred Revenue for $600, One-haif of it has now been earned but not yet recorded. e. Depreciation of $3,000 must be recognized on equipment purchased on July 1 of the previous year. t Cash of $6,000 was collected on May 1 for services to be rendered evenly over the next year beginning on May 1 . Deforred Revenue was credited when the cash was recelved. Two months of this performance obligation have now been fulfilled but not yet recorded. 9. The company owes interest of $750 on a bank loan taken out on February 1 . The interest will be paid when the loan is repaid next year on January 31. h. The income after all adjustments except income taxes was $35,000. The company's federal income tax rate is 15%. Compute and record income tax expense. Required: Indicate the accounting equation effects (amount and direction) of each adjusting journal entry. Provide an appropriate account name for any revenue and expense effects. (Enter any decreases to Assets, Llabilities, or Stockholders' Equity with a minus sign.)