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Nebraska Co. records adjusting entries monthly. Record the adjusting entries that are needed at the end of June 2021, based on the following information. 1.
Nebraska Co. records adjusting entries monthly. Record the adjusting entries that are needed at the end of June 2021, based on the following information. 1. On May 1, 2021 Nebraska had paid $13,200 for one year's worth of rent for their headquarters. 2. On January 1, 2021 Nebraska had borrowed $18,000 on a 1 year note at 6% interest, with all principal and interest due at maturity. 3. During June 2021, Nebraska performed services for a customer who had paid Nebraska $5,000 for the services in advance) on May 4th. 4. Nebraska owns $135,000 of equipment that is being depreciated at $750 per month. 5. Total supplies inventory at the end of June 2021 is $4,000. Nebraska currently shows the supplies account at a balance of $6,000. NOTE: Please do not record the entry for the original transaction; that has already been done. Your entri must reflect the adjustments needed at the end of June 2021. Record each transaction in order given above. This "AJE #" has been filled in for you. Use a - (hyphen) to represent that no data is presented. Do NOT abbreviate account names. Do NOT use a $(dollar sign). Do NOT use cents. DO use a comma separator. Account Debit AJE # Credit 1 2 3
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