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* $3 . 20 ( 1.0 5) Vissar Foods has the following balances in selected accounts on December 31 , 2020 . Journalize adjusting entries . Service Revenue $ 40 , 000 Insurance Expense 2 , 400 Supplies Expense 2 , 450 All the accounts have normal balances . Vissar Foods debits prepayments to expense accounts when paid , and credits unearned revenues to revenue accounts when received . The following* information below has been gathered at December 31 , 2020 . 1 . Vissar Foods paid E'2 , 400 for 12 months of insurance coverage on June 1 , 2020 . 2 . On December 1 , 2020 , Vissar collected $ 40, 000 for consult ulting services to be performed from December 1 , 2020 , through March 31 , 2021 . 3 . A count of supplies on December 31 , 2020 , indicates that supplies of EGoo are on hand . Instructions Prepare the annual adjusting entries needed at December 31 , 2020