Instant Clothing Alterations is run by Marc Giannopolous in the local shopping centre. The business prepared the following unadjusted and adjusted trial balances at 30 June 2019: INSTANT CLOTHING ALTERATIONS Trial Balances as at 30 June 2019 Trial balance Debit Credit $ 10 100 31 520 3 050 6 160 60 560 $ 23 020 17 680 Account Cash Accounts receivable Supplies Prepaid insurance Office furniture Accumulated depreciation Accounts payable Salaries payable Interest payable Loan payable Unearned alterations revenue Marc Giannopolous, Capital Marc Giannopolous, Drawings Alterations revenue Depreciation expense Supplies expense Electricity expense Salaries expense Rent expense Interest expense Insurance expense 33 600 4030 36 230 204 090 Adjusted trial balance Debit Credit $ 10 100 33 850 2180 3720 60560 $ 29 400 17 680 2 690 980 33 600 2 690 36 230 82 200 207 760 6380 870 13 800 77330 34 160 3440 2440 $331 030 $331 030 82 200 13 800 74 640 34 160 2460 $318 650 $318 650 Required Prepare the adjusting entries that account for the differences between the two trial balances and explain the nature of each entry. The only account affected by more than one adjustment is Alterations Revenue. Ignore GST. INSTANT CLOTHING ALTERATIONS General Journal Date Particulars Debit Credit 2019 Jun-30 Insurance expired. 2 Supplies used. 3 Depreciation on office furniture. 4 Alterations revenue earned, already received. 5 Alterations services earned but not received. 6 Accrued salaries. 7 Accrued interest on loan