Required: Complete the following worksheet for Appliance Repair for the year ended 30 June 2020. (15 marks) Additional information to complete the worksheet: 1. The equipment of $67,500 was purchased on 1 March 2020. The straight-line depreciation method is used with a useful life of 3 years and a scrap value of $2,700. No depreciation is ever recorded. 2. The $75,000 bank loan was borrowed on 1 May 2020. It is an interest only loan. The interest rate is 0.8% per month. No interest is ever paid or recorded. 3. The supplies on hand at 30 June 2020 were $650. 4. The prepaid insurance balance represents the annual premium paid on 1 April 2020. 5. $2,500 of unearned revenue has been earned by 30 June 2020. Appliance Repair O LH so Worksheet For the year ended 30 June 2020 Trial Balance Adjustments (Adjusted) Debit Credit Debit Credit Income S Debit Trial Balance (Unadjusted) Debit Credit 37,500 127,500 1,800 900 67,500 Account title Cash at bank Accounts receivable Prepaid insurance Supplies Equipment Accumulated depreciation- Equipment Accounts payable Unearned revenue Interest payable Bank loan (due in 2028) Capital Service revenue Wages expense Supplies expense 2,700 3,150 75,000 49,950 157,500 52,500 600 Depreciation expense- Equipment Insurance expense Interest expense 288,300 288,300