Problem 5-4A Adjusting entries and multi-step income statement-perpetual LOS Use the unadjusted trial balance of Electric Bike on December 31, 2020 DE Cash 5 1.300 Accounts receivable 21.865 Merchandise inventory 33, 800 Bore mupplies 2,015 office supplies 955 Prepaid Insurance 5.055 Huipment 65,690 accumulated depreciation, equipment $ 12,855 Accounts payable 7.200 Balaries psynble 0 Breedent capital 157, 025 Desden withdrawala 38,000 Interest income 230 Balea 525,000 Daler returns and allowancea 4.270 cont of goods sold 300.360 Balaries expense 95,500 ient expen 20,300 Bupplies expense 0 Depreciation expense, equipment 0 Insurance expense 0 Fotos $703, 110 $703, 110 Required: 1. Record adjusting entries for the following information a. The records show that the equipment was estimated to have a total estimated useful life of 10 years with a residual value at the end of its life of $13.690 b. The balance in the Prepaid Insurance account was reviewed and it was determined that $345 was unused at December 31, 2020 c. A review of the store supplies on December 31, 2020, revealed a balance on hand of $1760, a similar examination of the office supplies showed that $730 had been used d. Accrued salaries payable. $1,400. e. A count of the merchandise inventory revealed a balance on hond December 31, 2020, of $33,080