Sales returns and allowances 4, 370 Cost of goods sold 380 , 460 Salaries expense 95, 600 Rent expense 28, 400 Supplies expense 0 Depreciation expense, equipment Insurance expense Totals $705, 350 $705, 350 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 en of its life of $13,790. b. The balance in the Prepaid Insurance account was reviewed and it was determined that $340 was unused at December 31, 2020 c. A review of the store supplies on December 31, 2020, revealed a balance on hand of $1,790; a similar examination of the office supplies showed that $725 had been used. d. Accrued salaries payable, $1,450. e. A count of the merchandise inventory revealed a balance on hand December 31, 2020, of $33,170 View transaction list Journal entry worksheet