Roadside Travel Court was organized on July 1, 2016, by Betty Johnson. Betty is a good manager but a poor accountant. From the trial balance prepared by a part-time bookkeeper, Betty prepared the following income statement for her fourth quarter, which ended June 30, 2017.

Betty suspected that something was wrong with the statement because net income had never exceeded $30,000 in any one quarter. Knowing that you are an experienced accountant, she asks you to review the income statement and other data. You first look at the trial balance. In addition to the account balances reported above in the income statement, the trial balance contains the following additional selected balances at June 30, 2017.

Supplies - $8,200

Prepaid Insurance - 14,400

Notes Payable - 14,000

You then make inquiries and discover the following.

Prepare any adjusting journal entries required at June 30, 2017.

ROADSIDE TRAVEL COURT Income Statement For the Quarter Ended June 30, 2017 Revenues Rent revenue $212,000 Operating expenses Advertising expense Salaries and wages expense Utilities expense Depreciation expense Maintenance and repairs expense Total operating expenses $3,800 80,500 900 2,700 4,300 92,200 Net income $119,800