Milbank Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its fire Milbank Repairs & Service Unadjusted Trial Balance June 30, 2014 Debit Balances Credit Balances Cash 13,100 Accounts Receivable 86,970 20,960 502,770 20,430 Supplies Equipment Accounts Payable Unearned Fees Nancy Townes, Capital Nancy Townes, Drawing Fees Earned Wages Expense Rent Expense Utilities Expense Miscellaneous Expense 23,050 365,000 17,290 523,900 121.540 92,730 66,540 10,480 932,380 932,380 For preparing the adjusting entries, the following data were assembled: Ched My Work 1. Journalize the adjusting entries necessary on June 30, 20Y4. If an amount box does not require an entry, leave it blank. 2014 June 30 30 30 10 II II II II ID 30 ID II OD 30 2. Determine the revenues, expenses, and net income of Milbank Repairs & Service before the adjusting entries. Revenues S Expenses Net incomes 3. Determine the revenues, expenses, and net income of Milbank Repairs & Service after the adjusting entries. Revenues S Expenses Net income $ 4. Determine the effect of the adjusting entries on Nancy Townes, Capital. Enter the amount as positive numbers. Nancy Townes, Capital by si