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Chapter 5 Labi 7 23 points 01:19:19 eBook Print References Cash Accounts receivable Merchandise inventory Store supplies Office supplies Prepaid insurance Problem 5-4A Adjusting entries and multi-step income statement-perpetual LO5 Use the unadjusted trial balance of Electric Bike on December 31, 2020. Credit Debit $ 7,600 Equipment Accumulated depreciation, equipment Accounts payable Salaries payable Braeden Li, capital Braeden Li, withdrawals Interest income Soved Sales Sales returns and allowances Cost of goods sold Salaries expense Dant evnenza 22,165 34,100 2,165 925 4,755 68,990 59,500 4,578 380,660 95,800 1 con $13,155 7,500 162,415 Help 260 526,500 Save & Exit Su Chapter 5 Lab 7 23 points 01:19:00 eBook Print References Sales returns and allowances Cost of goods sold Salaries expense Rent expense Supplies expense Depreciation expense, equipment Insurance expense Totals Savet 4,5/0 380,660 95,800 28,600 $709,830 $709,830 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 $13,990. Help Save & Exit Submit b. The balance in the Prepaid Insurance account was reviewed and it was determined that $330 was unused at December 31, 2020. c. A review of the store supplies on December 31, 2020, revealed & balance on hand of $1,850; a similar examination of the office supplies showed that $715 had been used. d. Accrued salaries payable, $1,550. e. A count of the merchandise inventory revealed a balance on hand December 31, 2020, of $33,350. !!! Next > er 5 Lab i 3 1:18:43 ook int ences Journal entry worksneet