Prepare adjusting entries using the following additional information on 30 June 2020. Assume the business prepares adjusting entries on yearly basis. Dates are required. Narrations are not required. 1. Accrued wages at the end of the financial year amounted to $14,000. 2. Interest of $1,600 is owed on loan payable. 3. There were no supplies on hand on 1 July 2019. During the year, $5,200 of office supplies were purchased. At the end of the period, $1,760 of supplies were on hand. 4. On 1 April 2020, the business paid 6 months' insurance of $7,200 in advance. 5. On 1 April 2020, the business purchased equipment for $27,000. The useful life is 5 years with a scrap value of $7,000. 6. On 30 June, the business estimates that they have earned $200 bank interest from an investment but have not yet received the interest. Answer Template: If you accidentally delete the answer template, you may undo the deletion using "Ctrl + Z" (for Windows) or "Command + Z" (for Mac). If that does not work, please click on this link Answer Template. You may copy and paste the answer template to the answer box. 1 iBI. Date Accounts Ff E 8 Debit Credit