Ket CHAPTER 4: THE ADJUSTING PROCESS RECORD THE FOLLOWING ADJUSTMENTS AS OF JUNE 30, 2012.: A One month of insurance has expired. The initial purchase was for a 12 month policy B. Depreciation expense on the furniture is $50. C. Weekly payroll is $500, June 30, 2012 is a Thursday. D. Interest on the bank loan (rate of 10%) has accrued for one month E. A count of supplies shows $175 on hand at June 30, 2012 F. The retainer covered twelve months worth of service; one month has been delivered G. Work has been completed in an amount of $4,500 DEBIT CREDIT NOTE PAYABLE 15,000 POST ADJUSTMENTS TO LEDGER: CASH 20,000 3,600 15,000 2,000 18,000 5,000 1.000 1,500 53.000 13,100 COMMON STOCK 20,000 ACCT PAYABLE 700 39,900 DIVIDENDS 1,500 ACCTS RECEIVABLE 16,000 WAGES PAYABLE REVENUE 16,000 SUPPLIES 700 INTEREST PAYABLE RENT EXPENSE 2,000 OFFICE FURN 5,000 UNEARNED REV 18,000 WAGE EXPENSE 1,000 ACC DEPR - OFF FURN INSURANCE EXP PREPAID INSURANCE 3,600 INTEREST EXP SUPPLIES EXP DEPRECIATION EXPENSE