OBJ. 2, 3,4,5 PR 3-3A Adjusting entries Milbank Repairs & Service, an electronics repair store, prepared the following unadjusted Ledgertrial balance at the end of its first year of operations: Milbank Repairs & Service Unadjusted Trial Balance June 30, 2019 Credit Balances Debit Balances 10,350 67,500 16,200 166,100 Cash Equipment... Accounts Payable Unearned Fees.... 15,750 18,000 171,500 . . Nancy Townes, Capital .. Nancy Townes, Drawing. 13,500 294,750 Wages Expense .. Rent Expense... Utilities Expense .. Miscellaneous Expense . . .94,500 72,000 51,750 8,100 500,000 500,000 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. Instructions 1. Journalize the adjusting entries necessary on June 30, 2019. 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