Question $2$ of $4$

$-12$

View Policies

Current Attempt in Progress

Linda Jones started her own accounting firm, Jones Accounting, on June $1,2024.$ Linda wants to prepare monthly financial statements, so adjusting entries are required on June $30.$ Selected transactions for June follow:

$$770$ of supplies were used during the month.

Utilities expense incurred but not yet recorded or paid on June $30,2024,$ is $$229.$

Paid cash of $$3,360$ for a one$-$year insurance policy on June $1,2024.$ The policy came into effect on this date.

On June $1,$ purchased office equipment for $$9,480$ cash. It is being depreciated at $$158$ per month for $60$ months.

On June $1,$ Linda signed a note payable for $$8,000,6\%$ interest.

Assume June $30$ is a Wednesday and employees are paid on Fridays. Jones Accounting has two employees, who are paid $$890$ each for a five$-$day workweek that ends on Friday.

On June $15,$ received a $$1,200$ advance cash payment from a client for accounting services expected to be provided in the future. As at June $30,$ one$-$half of these services had not been performed.

Invoices representing $$1,700$ of services performed during the month of June have not been recorded as at June $30.$

Prepare adjusting entries for the items above. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

No$.$ Date $1.$ June $30,20242.$ June $30,2024$

Account Titles and Explanation

Debit

$3.$ June $30,2024$

$4.$ June $30,2024$

$5.$ June $30,2024$

$6.$ June $30,2024$

$7.$ June $30,2024$

$8.$ June $30,2024$