WUS DOO Question 5 12 points Save Answer Chapter 4 (12 marks, 24 minutes) Peerson Spectra Ltd provides legal advisory services. The company's year-end is June 30 and adjusting entries are only prepared at year-end, on June 30 For each of the following situations, prepare the necessary adjusting entry on June 30, 2021. If no entry is required, clearly indicate by writing "No Entry 1 Peerson Spectra Ltd pays its staff every Friday. The company's weekly payroll is $50,000 for a five-day work week (Monday to Friday). June 30, 2021 falls on a Wednesday 2. On July 1, 2020, Peerson Spectra Ltd had an opening balance of S1,500 in its Supplies account. During the fiscal year, the company purchased supplies worth $1,200 On June 30, 2021, the company had $1,300 of supplies on hand 3. On March 31, 2021, Peerson Spectra Ltd. obtained a 6-month 8% loan for $100,000. Interest on the loan will be paid on September 30, 2021 when the loan matures 4. On July 1, 2020, Peerson Spectra Ltd. had a balance of $1,200 in its Prepaid Insurance account representing 6 months of insurance to December 31, 2020. On December 28, 2020, the company purchased a 1-year insurance policy beginning on January 1, 2021 for $3,000. Peerson Spectra Ltd, recorded the December 28, 2020 payment to Prepaid Insurance 5. On January 1, 2021, Peerson Spectra Ltd. purchased a photocopier for $63,000. The company paid $20,000 cash for the photocopier and obtained a two-year interest free loan for the remaining balance. The photocopier has an estimated useful life of 7 years TTTT Paragraph Arial 3 (12pt) > iii T