Lisa Jackson started her own accounting firm, Jackson Accounting, on June 1, 2024. Lisa wants to prepare monthly financial statements, so adjusting entries are required on June 30. Selected transactions for June follow: 1. $850 of supplies were used during the month.

2. Utilities expense incurred but not yet recorded or paid on June 30, 2024, is $245.

3. Paid cash of $3,552 for a one-year insurance policy on June 1, 2024. The policy came into effect on this date.

4. On June 1, purchased office equipment for $11,400 cash. It is being depreciated at $190 per month for 60 months.

5. On June 1, Lisa signed a note payable for $9,600, 6% interest.

6. Assume June 30 is a Wednesday and employees are paid on Fridays. Jackson Accounting has two employees, who are paid $810 each for a five-day workweek that ends on Friday.

7. On June 15, received a $1,140 advance cash payment from a client for accounting services expected to be provided in the future. As at June 30, one-half of these services had not been performed.

8. Invoices representing $1,700 of services performed during the month of June have not been recorded as at June 30.