PR 3-3A Adjusting entries OBJ. 2, 3, 4,5 Milbank Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: Milbank Repairs & Service Unadjusted Trial Balance June 30, 2019 Debit Balances Credit Balances Cash 10,350 67,500 ivable. 15,750 18,000 171,500 Accounts Payable Nancy Townes, Capital .. Nancy Townes, Drawing Rent Expense Miscellaneous Expense 13,500 294,750 72,000 1,750 500 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. . Depreciation of equipment was estimated to be $11,000 for the year. Supplies on hand on June 30 were $2,775. 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