The ledger of Marco Rentals on 30 June 2019 includes the followingselectedaccounts before adjusting entries have been prepared:

Debit $ Credit $

Prepaid insurance 28080

Supplies 16800

Equipment 195000

Accumulated depreciationequipment 39000

Bank loan 156000

Rent revenue received in advance 72540

Rent revenue 468000

Wages expenses 109200

An analysis of the accounts shows the following adjustments that need to be made:

1. The equipment depreciates $3250 per month.
2. The rent revenue received in advance was for 9 months commencing 1 June.
3. Interest of $1950 is accrued on the bank loan.
4. Supplies on hand total $5600.
5. The benefits of prepaid insurance expire at the rate of $2340 per month.

Required

a)Prepare the adjusting entries at 30 June 2019.(12 Marks)