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, 2019 Debit Credit Balances Balances Cash Accounts Receivable Supplies Equipment Accounts Payable 14,180 94,120 22,680 528,120 22,110 Unearned Fees 24,950 Nancy Townes, Capital 379,000 Nancy Townes, Drawing 18,710 Fees Earned 567,000 Wages Expense 131,540 Rent Expense 100,360 Utilities Expense 72,010 Miscellaneous Expense 11,340 993,060 993,060 For preparing the adjusting entries, the following data were assembled: Fees earned but unbilled on June 30 were $10,270. Supplies on hand on June 30 were $8,380. Depreciation of equipment was estimated to be $14,180 for the year. The balance in unearned fees represented the June 1 receipt in advance for services to be provided. During June $19,710 of the services was provided. Unpaid wages accrued on June 30 were $1,820. Required: 1. Journalize the adjusting entries necessary on June 30, 2019. a. b. C. d. e. 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. Nancy Townes, Capital by $