KPMB Consulting Inc. incurred the following transactions in June.

June $1$ Sold $2,000$ shares of common stock for $$80,000$ cash.

June $2$ Purchased office equipment that cost $$60,000$ by signing a $2$ year, $7\%$ interest$-$bearing note payable.

The equipment has a useful life of $5$ years.

June $3$ Purchased $$10,000$ of supplies on account. Hint: debit supplies

June $4$ Performed $$4,000$ of consulting services on account.

June $5$ New client agreed to consulting proposal with $$2,000$ of work to begin next month.

June $6$ Paid $$12,000$ cash for a $6$ month insurance policy $($June through November$).$

$.$ June $13$ Paid $$5,000$ cash toward payable for June $3$ purchase of supplies

June $15$ Received $$2,400$ cash in advance for consulting services to be performed in the future

June $20$ Performed consulting services for $$10,000$ cash.

June $30$ Paid $$7,000$ cash for salaries this period.

June $30$ Paid $$9,000$ cash for June rent for a short$-$term lease.

Required

Prepare the June $30$ adjusting entry for each of the following items and post those entries to the ledger accounts.

The following accounts are added to KPMB Consulting Inc.$\text{'}$s chart of accounts:

Insurance Expense $(526),$ Depreciation Expense $(528),$ Accumulated Depreciation $(162),$ Interest Expense $(542),$ Interest Payable $(210),$ Utilities Expense $(540),$ Utilities Payable $(215),$ Supplies Expense $(541).$

Prepare the June $30$ adjusting entry for each of the following items.

One month of insurance expense expired.

Equipment is depreciated for the month of June

$$1,000$ of KPMB$\text{'}$s performance obligations have been satisfied as of June $30$ related to the June $15$ advance payment.

Interest expense is incurred for the month of June.

Utility expense incurred for June of $$2,200$ will be paid in July.

Revenue of $$1,500$ has not been billed related to performance obligations completed as of June $30.$

Supplies inventory on June $30$ based on a physical count is $$6,600.$ Recall that the Supplies account has a $$10,000$ balance, recorded when supplies were purchased