Following is a list of transactions that occurred during the month of June Transaction Started the business with $3,120,000 in cash Borrowed $412,000 in the form of a note payable Purchased land with cash for $74,880 purchased building with cash for $936 000 Purchased equipment on account for $312,000 Purchased a 12-month insurance policy for $24000 Date June 1 June 2- June 2- June 2 June 3 June 4. June 5- June 54 June 6 June 10 June 15 June 18 June 22 June 28 June 30- Generated $12,000 in room revenue. The guests paid cash Generated S3,000 in food and beverage revenue on account. Paid $1,500 in cash for advertising Paid a utility bill of $2,000 in cash Received a $5,000 cash deposit for a future banquet. Paid $1,800 in cash to repair an elevator Paid $4,000 in wages in cash You withdraw $500 from the business for personal use. Following transactions are adjusting entries that need to be booked as of June 30 2018: Money borrowed on June 2 is an interest loan with a 10 percent interest rate. The interest accrues each month even though interest is paid quarterly with the first payment not due until September 2, 2018. Compute interest on a monthly basis not by number of days.+ 1. 2. The building has no salvage value and is depreciated on a straight-line basis over 30 years. The equipment has no salvage value and is depreciated on a straight- line basis over 10 years. Compute Depreciation Expense on a daily basis. Insurance coverage has expired the number of days between payment and end of June. 3. 4. There is $8,500 of food and beverage inventory left in storage at the end of the month and there was no inventory used for intenal purposes (Employee meal or transfer to other department) 5. The last payday was June 28th (employees were paid for working that day) Wages accrue at $200 per day Required 1. Prepare adjusting entries based on the above information 2. Post the adjusting entries into T-accounts." 3. Complete an adjusted trial balance in good form as of June 30, 2018