Recording Adjusting Entries Using the Financial Statement Effects Template (FSET) Murdock Carpet Cleaners ended its rst month of operations on June 30. Monthly nancial statements will be prepared. The unadjusted account balances are as follows MURDOCK CARPET CLEANERS Unadjusted Trial Balance June 30 Debit Credit Cash $2,950 Accounts Receivable 1,130 Prepaid Insurance 7,740 Supplies 6,300 Equipment 11,100 Accounts Payable $1,900 Common Stock 5,000 Retained Earnings 13,240 Service fees revenue 11,630 Wages Expense 2,550 $31,770 $31,770 The following information is available. 1. The balance in Prepaid insurance was the amount paid on June 1 for the rst four months insurance. 2. Supplies available at June 30 were $2,050. 3. Equipment, purchased June 1, has an estimated life of ve years. 4. Unpaid and unrecorded employee wages at June 30 were $525. 5. Utility services used during June were estimated at $750. A bill is expected early in July. 6. Fees earned for services performed but not yet billed on June 30 were $950. The company uses the account Accounts Receivable to reect amounts due but not yet billed. REQUIRED Prepare its adjusting entries at June 30 using the financial statement effects template. Note: Use negative signs with your answers, when appropriate. Note: Select "N/A" as your answer if a part of the accounting equation is not affected