NEWS FOR VIEWS - TRIAL BALANCE AS AT 30 JUNE 2021

	Debit ($)	Credit ($)
Cash	15 100
Accounts Receivable	38 200
Inventory (1 July 2020)	42 500
Prepaid Rent	5 000
Prepaid Insurance Supplies Warehouse	2,700 510 160 000
Accumulated Depreciation Warehouse.		5 880
Motor Vehicle Equipment	30 000 18 000
Accd Depreciation Equipment		4 200
Accounts Payable		32 210
Capital (1 July 2020)		228 890
Drawings	12 500
Sales		217 670
Sales Returns & Allowances	2 270
Discount Allowed	400
Unearned Income		2 500
Purchases	130 200
Discount Received		900
Supplies Expense Freight Inwards	120 2 150
Freight Outwards	1 200
Sales Staff Wages Expense	24 000
Advertising Expense	800
Rent Expense	6 600	. .
	$492 250	$492 250

The following additional information is also provided at the 30^th of June 2021:(1) A customer paid $2,500 in advance on the 1^st of June 2021 for inventory to be delivered to the customer at a later date. By the 30^th of June 2021, $1,200 of the inventory had not been delivered to the customer. The rest of the inventory had been delivered to the customer in June 2021.

(2) Upon receipt of the businesss bank statement, the owner realised that the business had earned $150 interest for the year ending 30 June 2021. This amount was placed directly into the bank account by the bank so the cash was received by the business in June 2021 but has not yet been recorded by the business. Nothing has recorded by the business relating to the interest.

(3) All of the non-current assets are expected to be used evenly over their useful lives. The expected total useful lives and residual values of the non-current assets are as follows:

	Estimated Useful life	Estimated Residual
Equipment	9 years	$1,200
Warehouse	25 years	$5,400
Motor Vehicle	12 years	$6,800

(4) The business paid $2,700 cash for insurance on the 1^st of December 2020 for 9 months.

(5) A check of the records showed that wages were still not paid or recorded at 30^th June 2021 for a total of $1,650. A bill for the electricity for $550 was received on the 27^th of June 2021 and has not been recorded or paid yet. A bill for the water used by the business was also received on the 25^th of June 2021 for $360. The bill for the water was paid using cash on the 26^th of June 2021 but nothing has been recorded yet for any of the bills that have been received and paid by the business.(6) Rent was paid on 31st January 2021 and was shop rent for ten months starting the 1^st of March 2021.

(7) Sales of $540 made by the business to customers in June 2021 have not yet been recorded and the customers have not paid anything. The customers will pay the $540 in July 2021.

(8) It is estimated that 2.5% of the 30 June 2021 balance of Accounts Receivable will be never be collected from the customers.

(9) A check of supplies on hand at the end of June 2021 showed that a $270 of supplies had nor been used for the period.

(10) The owner paid $800 cash on the 19^th of April for four months worth of advertising on the radio. The advertising will occur once every month, once on the 24^th of May and again on the 24^th of June, July and August 2021.

REQUIRED:Prepare the adjusting entries to account for all of the items above.

DATE	ACCOUNTS	Dr	Cr

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