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Use the unadjusted trial balance of Electric Bike on December 31, 2020, Credit $ Debit...

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Accounting

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Use the unadjusted trial balance of Electric Bike on December 31, 2020, Credit $ Debit 7.500 22.065 30,000 2. 115 6.890 Cash Accounts receivable Merchandise inventory Store supplies orice supplies Prepaid insurance Equipment Related depreciation, equipment Recounts payable Salaries payable Buaeden Ls, capital BriedenLi, withdrawal Interest income $ 13,055 7.400 0 110, 115 59,000 250 526.000 1.470 380,560 95,700 28.500 Sales set and allowances Cost - goods sold Salaries expense Rent expense Supplier expense Depreciation expense, quspment Insurance expense Total $703, 590 $707,590 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 $13.890 b. The balance in the Prepaid Insurance account was reviewed and it was determined that $335 was unused at December 31, 2020: c. A review of the store suppiles on December 31, 2020, revealed a balance on hand of $1,820, a similar examination of the office supplies showed that $720 had been used d. Accrued salarles payable. $1.500. e. A count of the merchandise Inventory revealed a balance on hand December 31, 2020, of $33.260

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