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apter 5 Lab Problem 5-4A Adjusting entries and multi-step income statement-perpetual LOS 4 Use the unadjusted trial balance of Electric Bike on December 31, 2020 ped Credit Cash S 8,000 Accounts receivable 22,565 Merchandise inventory 34,500 store supplies 2, 365 office supplies 885 Prepaid in ourance 4,355 Equipament 73,390 Acculated depreciation, equipment S 13,555 Accounts payable 7.900 Baleries payable Baeden Li, capital 168,535 Banden i, withdrawala 61,500 Interest income 300 Sales 520, 500 Balos returns and allowances 4,970 Cont of goods sold 381, 060 Balaries expense 96,200 Rent expense 29,000 Supplies expense 0 Depreciation expense, equipment 0 In.rance expense o Totala $718, 790 $712, 790 CAS 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 $14,390 b. The balance in the Prepaid Insurance account was reviewed and it was determined that $310 was unused at December 31, 2020. c. A review of the store supplies on December 31, 2020, revealed a balance on hand of $1,970, a similar examination of the office supplies showed that $695 had been used d. Accrued salaries payable, $1.750 e. A count of the merchandise inventory revealed a balance on hand December 31, 2020, of $33,710