questions 2&3

2. On June 1, 20x1, the firm bought supplies for $7150. The $7150 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $2,900 were on hand. 3. On June 1, 20X1, the firm bought equipment costing $47,520. The equipment has an expected useful life of 9 years and no salvage value. The firm will use the straight-line method of depreciation View transaction list Journal entry worksheet Prepare the adjusting entry for depreciation, Note: Enter debits before credits. Transaction 3 General Journal Debit Credit Record entry Clear entry View general journal