E4-1 Explaining Why Adjustments Are Needed and Preparing Adjustments A list of various reasons for adjusting account balances is presented below, along with an unadjusted trial balance presented for the year ended December 31 . a. As of December 31 , the equipment has been used for two full years. Approximately $1,200 of the equipment's usefulness is consumed each year. b. On December 31 , the company performed $400 of services for a customer but has not yet recorded or billed the customer. c. On December 31 , the company received an e-mail from its utility company indicating the company used \$250 of services during December. The company has not recorded this item because the $250 will not be paid until January 15 . d. Salaries and wages totaling $333 for the second half of December have not yet been paid or recorded. e. No adjustment is needed for this account. Required: 1. For each account balance numbered 1-12, choose an appropriate reason from (a)-(d) that explains why that particular account balance needs to be adjusted or choose "e. No adjustment is needed." 2. Prepare the adjusting journal entries required as of December 31