1. Prior to preparing adjusting entries by a Hardware Store, the following balances were found: the equipment was bought on July 1, last year. Accumulated Depreciation-Equipment, $5,000. The company uses straight line method of depreciation for making adjusting entries for equipment. i) Open " T " account for each of the accounts above and insert those balances where they are supposed to be. All the accounts have normal balances. ii) Use the information above, if relevant, as well as the additional information below to (a) Make necessary adjusting journal entries; and (b) Post the journal entries to their respective accounts including the accounts you opened above. If an account was not existing, create the account. Considering the account balances provided above, the following is the additional information needed to make adjusting entries: a. Supplies on hand at the end of the period was $300. b. Only $1,000 remain unearned at the end of this period. c. Expired insurance, that is, insurance already used, is $700 d. Accrued salaries totaled $2,000. e. Accrued Service revenue, $12,000