Chapter Four Problem 4-2: Shown below is the June 30, 20XX trial balance of the Robert Smith Repair Shop. Robert Smith Repair Shop Trial Balance June 30, 20XX Cash (111) Accounts Receivable (112) Repair Supplies (117) Prepaid Rent (118) Prepaid Insurance (119) Repair Equipment (121) Truck (131) Accounts Payable (211) R. Smith, Capital (311) Repair Revenue (411) Wages Expense (514) Utilities Expense (516) 30,000 12,530 2,500 1,500 270 5,000 20.000 28.000 15,000 45,000 15,000 1.200 88.000 88.000 Adjustments An examination of the Prepaid Rent account shows a $500 balance. b. Depreciation on truck is $2,000. $150 of Prepaid Insurance has expired. d. Repair Supplies in the amount of $670 have been used Required 1. Open the ledger accounts for the items in trial balance and the following accounts: Rent Expense (518) Depreciation Expense, Truck (531) Accumulated Depreciation, Truck (132) Insurance Expense (519) Repair Supplies Expense (517) 2. Place the trial balance amounts in the ledger accounts and label them "balance." 3. Journalize and post the adjusting entries. 4. Prepare an adjusted trial balance