23 1 Problem 5-4A Adjusting entries and multi-step Income statement-perpetual LOS Use the unadjusted trial balance of Electric Bike on December 31, 2020 Cash Accounts receivable Merchandise Leventory office spile Prepaid Surax Equment Accumulated degrckaklet, dipen Accounts payable Salaries Sales returns and allo Cest of goods sold Salartes en Pt expe applies perse Depreciation expand, stalpest Required 1. Record adjusting entries for the following information The records show that the equipment was estimated to have a total estimated usefur ste af 10 years with a residual value at the end of its fe of $13.790 The balance in the Prepaid insurance account was reviewed and it was determined that $340 was unused at December 31, 2020 e. A review of the store supplies on December 31, 2020 revee ed a selance on hand of $1790 a similar examination of the office supplies showed that $725 had been used d. Accrued salaries payable. $1450 A count of the merchandise inventory revealed a calance on nano December 31 2020. of $33370 Help Save & Ext