QUESTION 1 Determine whether the Utrecht company needs to record an adjusting entry during the month of June, 2018. Note: Enter Y for yes, or N for No. 1. A customer purchased inventory from Utrecht on May 26, 2018; they pay Utrecht cash on June 5. 2. Utrecht received $800 from a customer on May 24, 2018. In exchange, Utrecht agreed to delivery inventory to the customer on June 15. 3. During the month, Utrecht utilized some equipment that originally cost $8,000. 4. Utrecht paid $3,000 cash for rent on their warehouse on May 29. The rent covers the month of June. 5. Utrecht paid $4,500 cash for rent on their storefront on June 5. The rent covers the month of June. 6. Utrecht purchased $14,000 worth of inventory during May; some was paid in cash, and some will be paid in cash during June