a. Dec. 1 - business receives $6,900 for a 10-month service contract. Date Accounts and Explanation Debit Credit (a) Dec. 1 Dec. 31-year-end adjusting entry needed to update the balance in the account. Date Accounts and Explanation Debit Credit (a) Dec. 31 b. Mar. 31 - work performed but not yet billed to customers for the month, $1,300. Date Accounts and Explanation Debit Credit (b) Mar. 31 Apr. 21 - received payment for the work that was completed. Date Accounts and Explanation Debit Credit (b) Apr. 21 c. Jun. 15 - purchased $2,500 of office supplies on account. Date Accounts and Explanation Debit Credit (c) Jun. 15 Dec 31 - a count of supplies shows that only $1,600 worth is left at year-end, so the balance in the account needs to be updated. Accounts and Explanation Debit Credit Date (c) Dec. 31 d. Feb. 2-business paid a $650 deposit for the last month's rental of a copier on a 10-month contract. Date Accounts and Explanation Debit Credit (d) Feb. 2. Nov. 30 - the rental period for the copier ended, so the balance in the prepaid account must be updated. Date Accounts and Explanation Debit Credit (d) Nov. 30 e. Jun. 1-purchased truck for $47,200 (cash) with an expected useful life of eight years. Date Accounts and Explanation Debit Credit (e) Jun. 1 Dec. 31-year-end adjusting entry needed to record amortization. Date Accounts and Explanation Debit Credit (e) Dec. 31