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could i get some help with this question Question 2 (7 MARKS) Phoebe's Plumbing, a firm that provides plumbing services, has just completed a full

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could i get some help with this question

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Question 2 (7 MARKS) Phoebe's Plumbing, a firm that provides plumbing services, has just completed a full year of operations on 30 June 2020. An analysis of the firm's records reveals the following: .1) On 1 January, the firm purchased a new machine for $75,000. Depreciation expense for the six months ended on 30 June 2020 is $7,500. ii) The supplies account had a $135 debit balance on 1 July. Supplies of $545 were purchased during the year and $120 of supplies are on hand as at 30 June. iii) A one year insurance policy was purchased on 1 May. It cost $3,000 and was recorded in the prepaid insurance account. iv) Phoebe's Plumbing has a number of annual maintenance contracts with its customers. These contracts are for the 12 months ending 31 December. This year $60,000 was received in advance for these contracts. The firm recorded these amounts in unearned revenue. (v) The firm has 2 employees who each earn $200 a day. They both worked the last 4 days in June for which they have not been paid. (vi) The firm has a bank loan of $100,000. The interest owing on this loan at 30 June is $2,500. (vii) Invoices representing $2,000 of services performed during the month have not been recorded as at 30 June. Required: Prepare the adjusting journal entries for the year ended 30 June 2020. Ignore GST. (Explanations not required)

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