3. In general journal form, record adjusting entries for the following items for Cornish Accounting Co.at December 31, 2020.a) On January 3, 2020, $5,500 of supplies were purchased and recorded as an asset. A count revealed $500 still on hand at December 31, 2020.b) Services performed during December but not yet billed to customers totaled $2,500.c) On July 1, 2020, a $10,000 car was purchased on account. The car is expected to last 4 years and have no residual value at the end of its useful life.d) On December 31, 2020 utilitiesowed but not yet paid amounted to $500.e) On January 10, 2020 Cornish Accounting Co. accepted a $5,000 deposit from a client for tax work to be completed during the year. The deposit was recorded as unearned revenue. On December 31, 2020 all the tax work for the client is complete. (20 marks)