3. Emeril Corporation encounters the following situations: 1. Emeril collects $1,000 from a customer in 2010 for services to be performed in 2011. 2. Emeril incurs utility expense which is not yet paid in cash or recorded. 3. Emeril's employees worked 3 days in 2010, but will not be paid until 2011. 4. Emeril earned service revenue but has not yet received cash or recorded the transaction. 5. Emeril paid $2,000 rent on December 1 for the 4 months starting December 1. 6. Emeril received cash for future services and recorded a liability until the revenue was earned. 7. Emeril performed consulting services for a client in December 2010. On December 31, it billed the client $1,200. 8. Emeril paid cash for an expense and recorded an asset until the item was used up. 9. Emeril purchased $900 of supplies in 2010; at year-end, $400 of supplies remain unused. 10. Emeril purchased equipment on January 1, 2010; the equipment will be used for 5 years. 11. Emeril borrowed $10,000 on October 1, 2010, signing an 8% one-year note payable. Instructions Identify what type of adjusting entry (prepaid expense, unearned revenue, accrued expense, and accrued revenue) is needed in each situation, at December 31, 2010.