Wang Supply prepares monthly financial statements Listed below are some selected accounts and their balances at June 30 Adjustments generally are done monthly, but no adjustments have been made for the month of June, 2017 Wang has a May 31 year end Wang Supply Unadjusted Trial Balance (partial) June 30, 2017 Debit Credit Prepaid Insurance $ 2,940 Supplies 520 Vehicles 32,000 Accumulated Depreciation Vehicles $ 9,360 Notes Payable 22,400 Unearned Revenue 1,500 Rent Revenue 142,000 An analysis of the account balances by the company's bookkeeper provided the following additional information 1 A two year insurance policy was purchased on March 1, 2017 for $3,360 2 A physical count of supplies revealed $250 on hand on June 30, 2017 3 The note payable is for one year at an annual interest rate of 5 , dated June 1, 2017 4 The vehicle is being depreciated at the rate of $2,520 per year 5 The amount of rent received in advance that remains unearned at June 30, 2017 is $1,370 Using the additional information above, prepare the adjusting entries that should be made by the Wang Supply on June 30 (Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts Round answers to 0 decimal places, e g 125 )

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Wang Supply prepares monthly financial statements. Listed below are some selected accounts and their balances at June 30. Adjustments generally are done monthly, but no

Wang Supply prepares monthly financial statements. Listed below are some selected accounts and their balances at June 30. Adjustments generally are done monthly, but no adjustments have been made for the month of June, 2017. Wang has a May 31 year end.

Wang Supply Unadjusted Trial Balance (partial) June 30, 2017

	Debit	Credit
Prepaid Insurance	$ 2,940
Supplies	520
Vehicles	32,000
Accumulated Depreciation - Vehicles		$ 9,360
Notes Payable		22,400
Unearned Revenue		1,500
Rent Revenue		142,000

An analysis of the account balances by the company's bookkeeper provided the following additional information:

1.		A two-year insurance policy was purchased on March 1, 2017 for $3,360.
2.		A physical count of supplies revealed $250 on hand on June 30, 2017.
3.		The note payable is for one year at an annual interest rate of 5%, dated June 1, 2017.
4.		The vehicle is being depreciated at the rate of $2,520 per year.
5.		The amount of rent received in advance that remains unearned at June 30, 2017 is $1,370.

Using the additional information above, prepare the adjusting entries that should be made by the Wang Supply on June 30. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 125.)