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PROBLEM 9-2B Objective: To record adjustments in T accounts Directions: In each of the following unrelated transactions, record in T accounts opening balances, purchases, and adjustments as of December 31 of the current year. (a) Merchandise inventory (beginning) on January 1 was $85,240. Merchandise inventory (ending) on December 31 is $89,610. (b) The Office Supplies account shows a January 1 balance of $5,370, an October 1 purchase of $17,210, and a December 31 inventory of $3,945. (c) The Store Supplies account shows a January 1 balance of $15,175, a March 18 purchase of $28,410, and a December 31 inventory of $17,555. (d) The Prepaid Insurance account shows a payment for a three-year policy on June 1 of this year in the amount of $7,200. (e) Salaries of $36,000 are paid weekly on Monday for the preceding week. This year, December 31 fell on a Monday. (f) Depreciation expense on store equipment is $50,000