The Event Company adjusts and closes its books monthly. The unadjusted trial balance is shown below at June 30, 2022:

a.On January 1, 2022, a 12-month insurance policy was purchased. Give the adjusting entry that must be made for June (in brackets include the debit and the credit for the entry).

b.At June 30, supplies on hand were shown to be $350. What amount should be expensed to the income statement for June? Make the needed adjusting entry (in brackets include the debit and the credit for the entry)

Debit Credit Cash 2,200 11,800 Supplies Prepaid Insurance 4,200 24,000 Equipment Accumulated Depreciation- Equipment 6,000 Unearned Admission Revenue 4,000 21,400 Capital, M. Thompson, May 31, 2017 9,200 Admissions Revenue Salaries Expense Utilities Expense Rent Expense 2,700 1,900 3,800 $40,600 $40,600