Q.1(Spoints) the following information related to Al-majd Co. for the year of 2020, this company prepares annual financial statements Adjustment data: 1. Prepaid rent balance before the adjustments was $4,500 . By year end $1,300 was unexpired. 2. Annual Depreciation expense of equipment is $2,300,equipment was purchased on 1. June 2020 with cost of 25.000$ 3. There was no beginning balance of supplies and during the year of 2020 the company purchased $1,900 of office supplies. At 31 December 2020 supplies on hand were $700 . 4. The company borrowed NT$360,000 by signing a %6.1-year note on October 1 2020. Adjusting entry Adjusted balance 31 December 2017 Prepaid rent