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Depene You then make inquiries and discover the following items: 1. Rental revenue includes advanced rental payments received for summer occupancy in July, in the
Depene You then make inquiries and discover the following items: 1. Rental revenue includes advanced rental payments received for summer occupancy in July, in the amount of $54,000. 2. There were $900 of supplies on hand at June 30. 3. Prepaid insurance resulted from the purchase of a one-year policy for $15,600 on April 1, 2018 4. The mail the first week of July brought the following bills: advertising for the week of June 24, $100; repairs made June 18, $4,610; and utilities for the month of June, $230. S. Salaries are $310 per day. At June 30, four days' salaries have been incurred but not paid. 6. Interest on the mortgage payable is $1,800 for the quarter and due July 1. 7. Income tax of $7,200 for the quarter is due in July, Prepare the adjusting journal entries required at June 30, assuming adjusting entries are made quarterly. (Credit account titles are automatically indented when the amount enter for the amounts.) Sr no. Date Account Titles and Explanation Debit Credit 2. June 30 3. June 30 4. June 30 5. June 30 6. June 30 7. June 30
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