The followings are the selected transactions of David & Sons for the year ended 30 June 2022.

The company purchased a one-year insurance policy during the financial year 2020-2021. The policy was going to expire on the 1^st day of April 2022. However, the prepaid insurance on the 1^st day of July 2021 was $9 000.00 (2 marks)

The sales staff is being paid weekly for a five-day week. On the last day of financial reporting, it was realised that $9 600 for the current week would be paid on the 3^rd day of July 2022. The current week ends on the 2^nd day of July 2022 (2 marks)

The total sales revenue consists of $1 985 that is deposited by Mr James for the products. However, these products have not yet been shipped to Mr James (2 marks)

The stationary of $7 564.00 was charged to the office supplies expenses during the financial year ended on the 30^th day of June 2022. However, it is realised that the stationary of $613 is still useful that can be used next year (2 marks)

A bank loan is due, and the company is paying interest on this loan annually for the calendar year on the 31^st day of December. The interest on the loan for the current calendar year ending on the 31^st day of December 2022 is $5 000 (1 mark)

Required:

Prepare the adjusting entries for the above situations as on 30 June 2022.