Nancy Nad owns NN Company. The company prepares its financial statements every three months at which time it prepares any adjusting entries. NN uses the straight-line method of Depreciation. At June 30, 2018, the company had the following trial balance: Debit Credit 12,000 80,000 9,000 3,000 45,000 8,000 27.000 14.000 Cash Accounts Receivable Allowance for Doubtful Accounts Prepaid Insurance Supplies Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Nancy Nad, Capital Nancy Nad, Withdrawals Revenue Insurance Expense Supplies Expense Wages Expense Depreciation Expense 75,000 3.000 34.000 24,000 167000 167.000 Wages Expense Depreciation Expense 167,000 167,000 Required: Prepare the necessary adjusting journal entries for June 30 based on the questions below It may be necessary to develop new general ledger accounts. Question 27 (2 points) Listen The equipment has a total useful life of 5 years with a residual value of $5,000. A 80 82 Format REF DEBIT CREDIT DATE ACCOUNT TITLES AND EXPLANATION