Use the unadjusted trial balance of Electric Bike on December 31, 2020 Cash Accounts receivable Merchandise inventory Debit $ 7,700 Credit 22,265 34.200 Store supplies 2,215 office supplies 915 Prepaid insurance 4,655 Equipment 70,090 Accumulated depreciation, equipment Accounts payable $ 13,255 7,600 Salaries payable Braeden Li, capital 163,945 Braeden Li, withdrawals 60,000 Interest income Sales 270 527,000 Sales returns and allowances 4.670 Cost of goods sold 380,760 Salaries expense 95,900 Rent expense 28,700 Supplies expense 0 Depreciation expense, equipment 0 Insurance expense 0 Totals $712,070 $712,070 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 $14,090. b. The balance in the Prepaid Insurance account was reviewed and it was determined that $325 was unused at December 31, 2020 c. A review of the store supplies on December 31, 2020, revealed a balance on hand of $1,880, a similar examination of the office supplies showed that $710 had been used. d. Accrued salaries payable, $1,600. e. A count of the merchandise inventory revealed a balance on hand December 31, 2020, of $33,440.