On 30 June 2025, Khaled Amirkhani Financial Planning completed its first year of operations. Some of the ledger account balances of the business, before any year-end adjustments, are given below.

No adjusting entries have been made to these accounts during the year. An analysis of the business records reveals the following.
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1. The balance in Advertising Prepaid represents the amount paid for an advertisement in a financial magazine for 1 year. The agreement with the publisher stipulates the same amount of space each month and covers the period 1 March 2025 to 28 February 2026.
2. The firm’s lease in respect of the premises stipulates a rent of $1720 per month payable on the first day of each month, plus an annual amount equal to 0.3% of the annual fees earned. The extra rental is payable within 15 days of the end of the reporting period.
3. The database expense relates to an annual subscription to cloud based data on the share market and other investments. The subscription was taken out on 1 August 2024.
4. The wages are paid every Friday for a 5-day working week ending on the preceding Wednesday. In 2025, 30 June falls on a Monday and the wages for the week ended 4 July 2025 amount to $12 000. No overtime was worked and all employees worked the normal office hours during the 5-day week.
5. The Electricity Expense ledger balance does not include the amount for June 2025. The account was received during July and amounted to $780.
Required Journalise the necessary adjusting entries.

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Advertising prepaid $ 3 600 Advice fees revenue 420 000 Rent expense 20 640 Database expense 14 640 Wages expense 136 600 Electricity expense 8 200