Task Details: Question 1 Jax Ltd began operations on 1 January 2020. The trial balance at 30 June are as follows. Jax Ltd Trial balance as at 30 June 2020 Credit Debit 175,000 54,800 3,200 1,500 300,000 Account name Accounts receivable Cash at bank Prepaid insurance Supplies Office building Accumulated depreciation Accounts payable Unearned revenue Share capital Mortgage loan Service revenue Salaries expense Rent expense Insurance expense Electricity expense 50,000 7,400 4,000 367,500 100,000 46,800 34,000 2,000 1.200 4,000 575,700 575,700 Additional information: a. Depreciation expense for the year is $4,000. b. An electricity bill for $300 has not been recorded and will not be paid until next month. C. The balance of the prepaid insurance policy is the annual premium for insurance commencing 1 January 2020. d. Services were performed during the period in relation to $3,000 of revenue received in advance. e. Invoices representing $4,400 of services performed during the month have not being recorded as of 30 June 2020 f. Supplies on hand at 30 June total $1,000. g. Salaries of $4,600 are owed at 30 June. Required a) Prepare adjusting entries to record above events. b) Prepare a statement of financial performance for the year ended 30 June 2020