Prоblem 1 (Adjustments) (15 Pоints) Prepаre the аdjustments fоr the following trаnsactions. Indicate the change in each account affected (Increase or Decrease), the account title of each account affected, and the amount (Note: you do not need to complete a tabular analysis, but you may find a table to be helpful). Depreciation on equipment is $1,340 for the accounting period. Interest owed on a loan but not paid or recorded is $275. There was no beginning balance of supplies and $550 of office supplies were purchased during the period. At the end of the period $100 of supplies were on hand. Prepaid rent had a $1,000 normal balance prior to adjustment. By year-end $700 had expired. Accrued salaries at the end of the period amounted to $900. To create a table, open the table editor as indicated in the image below. (Add rows and columns as needed.)
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