CG70016 Financial Accounting 1 Connect Saved Help Save & E Prepare general journal entries on December 31, 2020 to record the following unrelated year-end adjustments. (a) (b) On December 2, 2020, $5,200 of supplies were purchased and recorded as an asset. A count revealed $1,000 still on hand at December 31, 2020 Services performed during December but not yet billed to customers totaled $2,000. Depreciation of equipment is recorded using the straight-line method over 10 years. The equipment was purchased on January 1, 2020 for $300,000, and has no residual value at the end of its useful life. Prepaid insurance expired during the month of December was $2,500. (c) (d) Short Answer Toolbar navigation A BI S MM