Utrecht Company prepares monthly financial statements. For each item below, determine whether Utrecht needs to record an adjusting journal entry at the end of June, 2018. Note: Enter Y for yes, or N for No.

1. A customer purchased inventory from Utrecht on May 26, 2018; they pay Utrecht cash on June 5.
2. Utrecht received $800 from a customer on May 24, 2018. In exchange, Utrecht agreed to delivery products to the customer on June 15 and did so.
3. During the month of June, Utrecht utilized some equipment that originally cost $8,000.
4. Utrecht paid $3,000 cash for rent on their warehouse on May 29. The rent covers the month of June.
5. Utrecht paid $4,500 cash for rent on their storefront on June 5. The rent covers the month of June.
6. Utrecht purchased $14,000 worth of inventory during May; $10,000 was paid in cash, and the remaining $4,000 will be paid in cash during June.
7. Utrecht borrowed $20,000 as a loan payable on October 1, 2017. The loan matures on September 30, 2018, with all interest payable on that date. The annual interest rate is 6%.