Question 1 (20 marks) Johnson Graphics Company was organized on January 1, 2022 by Cameron Johnson. At the end of the first 6 months of operations, the unadjusted trial balance contained the accounts shown below. Analysis reveals the following additional data: a. The $3,700 balance in Supplies represented supplies purchased in January. At June 30,$1,500 of supplies were on hand. b. The note payable was issued on February 1. It was a 9% (annual interest rate), 6-month note. The amount of unrecorded accrued interest at June 30 was $750. The interest payment was due on July 31 . c. The balance in Prepaid Insurance was the premium on a one-year policy, dated March 1, 2022. Coverage began on March 1, 2022. d. The balance in Unearned Service Revenue represented the cash receipt before services were provided. At June 30,$1,300 were still unearned. e. Revenue for services performed but unrecorded and uncollected at June 30 totaled $2,000. f. Depreciation expense for the Equipment, which was purchased on January 1, 2022, had not been recorded for the first six months. The residual value was $4,500 and the estimated useful life was 18 years. Depreciation was to be charged on a straightline basis. Required: 1. Journalize the adjusting entries at June 30. (Assume adjustments are recorded every 6 months.) Note: Explanations are not required for adjusting entries. marks) 2. Prepare an adjusted trial balance as of June 30,2022. (7 marks) 3. Describe the nature and purpose of an adjusted trial balance. (4 marks)