Question: 1 1 . Adjusting Entries and Financial Statements ( mathrm { LO } _ { 2 } , 3 ) The June

11. Adjusting Entries and Financial Statements \(\mathrm{LO}_{2},3\)
The June 30 unadjusted trial balance of Prime Realty appears as follows.
Additional Information:
1. Rent expires at a rate of \(\$ 700\) per month.
2. Monthly depreciation on equipment is \(\$ 300\).
3. Interest on the \(6\%\) promissory note is paid quarterly on April 1, July 1, October 1, and January 1.
4. Performed services for which payment was received in April, \(\$ 800\).
5. Received utility bill to be paid next month, \(\$ 500\).
6. Services to customers earned during June but unrecorded at June \(30,\$ 2,500\).
7. Supplies on hand totaled \(\$ 1,500\) at June 30.
8. Owed employees for salaries for the last week of June to be paid in July, \(\$ 800\).
9. Prime Realty prepares adjusting entries each quarter. Adjustments were last made on March 3
1 1 . Adjusting Entries and Financial Statements

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