Milbank Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: Milbank Repairs & Service Unadjusted Trial Balance June 30, 20Y4 Debit Credit Balances Balances Cash 14,040 Accounts Receivable 93,250 Supplies Equipment 22,470 523,740 Accounts Payable 21,910 Unearned Fees 24,720 Nancy Townes, Capital 376,000 Nancy Townes, Drawing 18,540 561,750 Fees Earned 130,330 Wages Expense 99,430 Rent Expense 71,340 Utilities Expense 11,240 Miscellaneous Expense 984,380 964.380 We work Translate LinkedIn For preparing the adjusting entries, the following data were assembled: . Fees earned but unbilled on June 30 were $10,160. Supplies on hand on June 30 were $8,300. Depreciation of equipment was estimated to be $14,040 for the year. The balance in unearned fees represented the June 1 receipt in advance for services to be provided. During June, $19,530 of the services provided. Unpaid wages accrued on June 30 were $1,800. Required: 1. Journalize the adjusting entries necessary on June 30, 2014. If an amount box does not require an entry, leave it blank. 2014 June 30 30 30 30 30 30 Previous 2. Determine the revenues, expenses, and net income of Milbank Repairs & Service before the adjusting entries. Revenues Expenses Net income 3. Determine the revenues, expenses, and net income of Milbank Repairs & Service after the adjusting entries. Revenues Expenses Net income 4. Determine the effect of the adjusting entries on Nancy Townes, Capital. Enter the amount as positive numbers. by s Nancy Townes, Capital