The following transactions are adjusting entries that need to be booked as of June 30, 2018: The money borrowed on June 2 is an interest loan with a 10 percent interest rate. The interest accrues each month even though interest is paid quarterly with the first payment not duc until September 2, 2018. Compute interest on a monthly basis not by number of days,- 1. 2. The building has no salvage value and is depreciated on a straight-line basis over 30 years. The equipment has no salvage value and is depreciated on a straight-line basis over 10 years. Compute Depreciation Expense on a daily basis.- 3. Insurance coverage has expired the number of days between payment and end of June.. There is S8,500 of food and beverage inventory left in storage at the end of the month and there was no inventory used for internal purposes (Employee meal or transfer to other department).. 4. The last payday was June 28th (employees were paid for working that day). Wages accrue at $200 per day. 5. Required: 1. Prepare adjusting entries in good form based on the above information. . Post the adjusting entries into T-accounts.+ 3. Complete an adjusted trial balance in good form as of June 30, 201s. . 4. Prepare closing entries of all required accounts. 5. Complete the Income Statement for June 2018 6. Complete a final Balance Sheet in good form as of June 30, 201s. The following is a list of transactions that have occurred during the month of June.+ Transaction Date June lStarted the business with S1,000,000 in cash. June 2 June 2 June 2 June 3- June 4e June 5 Borrowed $200,000 in the form of a note payable. Purchased land with cash for $24,000 Purchased building with cash for S300,000.- Purchased equipment on account for $100.000 Purchased a 12-month insurance policy for $24.000 Purchased S10,000 of Food and Beverage Inventory on account. June 5 Generated $12,000 in room revenue. The guests paid cash June 6.Generated $3,000 in food and beverage revenue on account. June 10 June 15 June 18- Paid $1,500 in cash for advertising. Paid a utility bill of $2.000 in cash Received a $5,000 cash deposit for a future banquet Paid $1,800 in cash to repair an elevator Paid $4,000 in wages in cash. June 22 June 28 June 30 You withdraw $500 from the business for personal use.aillil