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fill out all the empty boxes Milbank Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its
fill out all the empty boxes
Milbank Repairs \& Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: Milbank Renairs R Servire For preparing the adjusting entries, the following data were assembled: - Fees earned but unbilled on June 30 were $9,940. - Supplies on hand on June 30 were $8,110. - Depreciation of equipment was estimated to be $13,730 for the year. - The balance in unearned fees represented the June 1 receipt in advance for services to be provided. During June $19,090 of the services was provided. - Unpaid wages accrued on June 30 were $1,760. Required: Required: 1. Journalize the adjusting entries necessary on June 30,2019. a. Accounts Receivable Fees Earned b. Supplies Expense Supplies c. Depreciation Expense Accumulated Depreciation-Equipment d. Unearned Fees Fees Earned e. Wages Expense Wages Payable 2. Determine the revenues, expenses, and net income of Milbank Repairs \& Service before the adjusting entries 3. Determine the revenues, expenses, and net income of Milbank Repairs \& Service after the adjusting entries. 4. Determine the effect of the adjusting entries on Nancy Townes, Capital. Nancy Townes, Capital by$Step by Step Solution
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