Milbank Repairs \& Service UNADJUSTED TRIAL BALANCE June 30,20Y4 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. Joumalize the adjusting entries necessary on June 30,20Y4. Refer to the chart of accounts for the exact wording of the account tidles. CNOW joumals do not use lines for joumal explanations. Every line on a joumal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered. 2. Determine the revenues, expenses, and net income of Milbank Repairs \& Service before the adjusting entries. 3. Determine the revenues, expenses, and net income of Milbank Repairs \& Service after the adjusting entries. 4. Determine the effect of the adjusting entries on Nancy Townes, Capital