1 Question 2 Marks Prepare year and adjustments for the following transactions 1 ti 2 3 7 The company has a 521,000 note receivable with an interest rate of 7%. Interest is due on 1st of the month. Interest expense is recorde Services totalling $22,100 had been performed but not yet billed by the end of the year The company owns equipment worth $105,000. It has a 10 year estimated useful life and no residual valve Supplies on hand at the beginning of the year totalled SHO, during the year an additional $350 worth of supplies was purchased. Ily year end, only $100 in supplies remained. Journal Entry Accounts Description Debit Credit 10 11 2