Problem 5-4A Adjusting entries and multi-step income statement-perpetual LO5 Use the unadjusted trial balance of Electric Bike on December 31, 2020. Credit Debit $ 7,800 22,365 34,300 2,265 905 4,555 71,190 $ 13,355 7,200 Cash Accounts receivable Merchandise inventory Store supplies office supplies Prepaid insurance Equipment Accumulated depreciation equipment Accounts payable Salaries payable Braeden Li, capital Braeden u, withdrawals Interest Income Sales Sales returns and allowances Cost of goods sold Salaries expense Rent expense Supplies expense Depreciation expense, equipment Insurance expense Totals 165,475 60,500 200 527,500 4,770 380,860 96,00 28,300 $714,310 $714,310 Required: Journal entry worksheet Record prepaid insurance expired. Note: Enter debits before credits. Date General Journal Dec 31, 2020 Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record Store supplies used. Note: Enter debits before credits. General Journal Date Dec 31, 2020 Dubit Credit Record entry Clear entry View general journal Sales $ 527,500 Less Sales returns and allowances (4,770) Net sales Cost of goods sold $ (4,770) 522,730 381,630 141,100 Gross profit Operating expenses Salaries expense Rent expense Office supplies Depreciation expense, equipment Insurance expense Store supplies Total operating expenses Income from operations Other revenues and expenses: Interest income 97,650 28,800 705 5,700 4,235 355 137 445 3,655 280 Profit $ 3,935