QUESTION 4 The following are some of the account balances for Syarikat Permata as at 31 March 2020, at the end of its financial year. These accounts all have normal balances. Sales Sales discount Cost of coods sold Freight in Purchase discount Sales staff salary expense R 298,00 12.00 150.00 200 300 4,00 3 Administrative staff salary expense Rent expense Utility expense 3,00 5,00 2.00 The data for the adjustment are as follows: 1. The inventory account shows a balance is RM42,500 however the physical count shows the actual balance is RM42,400. 2. Supplies worth RM3,000 has been used. 3. The depreciation of equipment for the accounting period is RM8,000 4. Interest on Notes payable which the amount RM1,000 is accrued. 5. The March salary, RM3,000 will only be paid in early April. It is divided equally between the salaries of sales staff and the salaries of administrative staff. 6. Rental payments received from customers for the months of March, April and May have been credited to the Unearned Rental account on 1 March 2020. The monthly rent is RM4,500. Required: a) Prepare the adjustment journal entry by 31 March 2020. b) Prepare a stage Income Statement for the year ended 31 March 2020