Problem 3. a) Explain the matching principle and why this principle is important in business. (3 Marks) b) Given the following information in the table below, determine the adjustments and actions you would need to make to the indicated accounts and the amounts involved. (5 Marks) Table.2. Account General Ledger Balance (K) Used (K) Remaining (K) Prepaid insurance 2,154 799 Supplies 1,997 1,036 Merchandise Inventory 199,571 257,436 Tax Payable 33,067 36,799 c) Using a table, summarize the various necessary trial balance adjustments, their effects and actions you would take and the main reason for doing those adjustments. (4 Marks)