On June $1,201,$ Keller Company, a new firm, paid $$5,580$ rent in advance for a six$-$month period. The $$5,580$ was debited to the Prepoid Rent account.

On June $1,201,$ the firm bought supplies for $$7,600.$ The $$7,600$ was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $$3,125$ were on hand.

On June $1,20$X$1,$ the firm bought equipment costing $$63,600.$ The equipment has an expected useful life of $10$ years and no salvage value. The firm will use the straight$-$line method of depreciation.

Prepare end$-$of$-$June adjusting entries for Keller Company.

Journal entry worksheet

A

B

c

Prepare the adjusting entry for prepaid rent.

Note: Enter debits before aredits.

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