The accounts listed below appeared in the December 31, 2020 trial balance of B&N Company Debit Credit Equipment KD 192,000 Accumulated Depreciation Equipment KD 60,000 Notes Payable 90,000 Prepaid Rent 23,400 Supplies 18,600 Salaries and Wages Expense 57,600 Interest Expense 1,400 Instructions (1) From the account balances listed above and the information given below, prepare the annual adjusting entries necessary on December 31 2020: - The annual depreciate rate for the equipment is %9 and its residual value is 10% of its cost Dec 31 - The note payable is a 11-month note given to the bank May 1 and bearing interest at 6%. Dec 31 0 - The balance in prepaid rent is a 2 year rent upfront paid on June 1, 2020 Dec. 31 e : - Supplies on hand totaled KD 5,660 Dec 31 : (2) What amounts should be shown for each of the following on the statement of financial position for the year? - Accumulated Depreciation - Notes Payable - Prepaid Rent - (2) What amounts should be shown for each of the following on the statement of financial position for the year? - Accumulated Depreciation - Notes Payable = - Prepaid Rent - Supplies