Milbank Repairs \& Service, an electronics repair store, prepared the following 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. Required: 1. Journalize the adjusting entries necessary on June 30,20 Y4. Refer to the chart of accounts for CHART OF ACCOUNTS Journat 1. Noumalze the adfusting entries necessay on June 30 , 20Y4. Feler to the chart of accounts for the exsect wording of the account abies. CNOW joumals do not use ines lor joumal explanations. Every line on a jouma' page is used for debit or credit entries. CNow joumals wilf at fomatcaly indent a credit entry when a credt amount is entered. 2. Determine the revenues, expenses, and net income of Milbank Repairs \& Service before the adjusting entries