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Adjusting Entries Milbank Repairs & Service, an electronics repair store, prepared the following unadjusted trial balance at the end of its first year of operations: Milbank Repairs & Service Unadjusted Trial Balance June 30, 2019 Debit Balances Credit Balances Cash 12 380 Accounts Receivable 82,230 Supplies 19,010 Equipment 473.290 19,320 21.800 343,000 Accounts Payable Unearned Fees Nancy Toumnes, Capital Nancy Towns Drawing Fees Eamed Wages Expense 16,350 495.360 114.920 Rent Expense 87.680 62.910 Ubies pers scelaneous Expense 9,910 879,480 879,480 For preparing the adjusting entries, the following data were assembled: Pes samed but unbilled on June 30 er $8.950. Supplies on hand on June 30 were $7.320. Depreciation of equipment was estimated to be $12,380 for the year. The balance in uneared fees represented the June 1 receipt in advance for services to be provided. During June 517.220 of the services was provided. Unpaid wages accrued on June 30 were $1.580. Required: 1. Journalize the adjusting entries necessary on June 30, 2019, a. b 00000 00000 d 2. Determine the revenues, expenses, and net income of Mibank Hepair & Service before the adjusting entries. Expenses Tietcom 2. Determine the revenues, expenses, and net income of Milbank Repairs & Service before the adjusting entries. Revenues Expenses 0.01. Net income 3. Determine the revenues, expenses, and net income of Milbank Repairs & Service after the adjusting entries. Revenues Expenses Net Income 4. Determine the effect of the adjusting entries on Nancy Townes, Capital. Nancy Townes, Capital by s

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