Journal entries and trial balance OBS. 1, 2, 3, 4 On June 1, 2019, Kris Storcy established an interior decorating business, Eco-Centric Designs. During the month, Kris completed the following transactions related to the business: June 1. Kris transferred cash from a personal bank account to an account to be used for the business, $35,000. 1. Paid rent for period of June 1 to end of month, $4,750. 6. Purchased office equipment on account, $14,100. 8. Purchased a van for $28,500 paying $4,500 cash and giving a note payable for the remainder. 10. Purchased supplies for cash, $2,380. 12. Received cash for job completed, $12,200. 15. Paid annual premiums on property and casualty insurance, $3,600. 23. Recorded jobs completed on account and sent invoices to customers, $11,900. 24. Received an invoice for van expenses, to be paid in June, $1,500. 24. Recerved an inoice for van expenses, to be paid in June, s1,500. ABOVE Pregare GOOD FORM. 2 Adjusting entries Mubank Repairs \& Service, an electronics repair store, prepared the folloming unadjusted trial balance at the end of its first year of operations: For preparing the adjusting entries, the following data were assembled: - Fees earned but unbilled on June 30 were $7,380. - Supplies on hand on June 30 were $2,775. - Depreciation of equipment was estimated to be $11,000 for the year. - The balance in unearned fees represented the June 1 receipt in advance for services to be provided. During June, $16,500 of the services were provided. - Unpaid wages accrued on June 30 were $3,880. Instructions 1. Journalize the adjusting entries necessary on June 30,2019. 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. S. Prepale en in sone SFaremENT IWD BALANCE SHEET AFTER ADJUSTMENTS. IN GOOD FORM