Debit Balances Credit Balances Cash 12,560 83,370 20,090 474,090 Accounts Receivable Supplies Equipment Accounts Payable Unearned Fees Nancy Townes, Capital Nancy Townes, Drawing Fees Earned Wages Expense Rent Expense Utilities Expense Miscellaneous Expense 19,590 22,100 342,000 16,570 502,250 116,520 88,900 63,790 10,050 885,940 885,940 For preparing the adjusting entries, the following data were assembled: Fees earned but unbilled on June 30 were $9,090. Supplies on hand on June 30 were $7,420. Depreciation of equipment was estimated to be $12,560 for the year. The balance in unearned fees represented the June 1 receipt in advance for services to be provided. During June, $17,460 of the services were provided. Unpaid wages accrued on June 30 were $1,610 1. Joumalize the adjusting entries necessary on June 30, 2014. If an amount box does not require an entry, leave it blank. 2014 June 30 30 30 II II II II II II II II Il 30 > 30 2. Determine the revenues, expenses, and net income of Milbank Repairs & Service before the adjusting entries. Revenues Expenses Net income 2. Determine the revenues, expenses, and net income of Milbank Repairs & Service before the adjusting entries. Revenues $ Expenses Net income $ 3. Determine the revenues, expenses, and net income of Milbank Repairs & Service after the adjusting entries. Revenues $ Expenses Net income 4. Determine the effect of the adjusting entries on Nancy Townes, Capital. Enter the amount as positive numbers. Nancy Townes, Capital by s