The management consulting firm of the Zimbardi sisters supplied the following information as at 30 June 2019, the end of the financial year.

1. Interest earned but not received totals $2600.

2. The June electricity account for $1142 had not been paid or recorded.

3. Consulting fees owing to the business and unrecorded as at 30 June 2019 amount to $8620.
4. The Zimbardi sisters received $6300 in rent revenue on 1 May for the 3‐month period beginning on that date. The transaction was recorded by a credit to Unearned Rent Revenue.
5. Prepaid Insurance was debited for $5040 on 25 March to record the cost of a 12‐month policy beginning on 1 April.

Required

(a) Prepare an adjusting entry for each item as at 30 June 2019.

(b) Prepare reversing entries where appropriate. Justify why you have / have not prepared reversing entries for each adjustment.