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 $1,368 of the equipment's usefulness is consumed each year. b. On December 31, the company performed $540 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 $390 of services during December. The company has not recorded this item because the $390 will not be paid until January 15. d. Salaries and wages totaling $473 for the second half of December have not yet been paid or recorded. e. No adjustment is needed for this account. Credit Debit $ 6,140 640 12,420 Account Name 1. Cash 2. Accounts Receivable 3. Equipment 4. Accumulated Depreciation 5. Accounts Payable 6. Salaries and Wages Payable 7. Common Stock 8. Retained Earnings 9. Service Revenue 10. Salaries and Wages Expense 11. Depreciation Expense 12. Utilities Expense $ 2,622 840 0 10,000 5,437 12,378 7,933 1,254 2,890 $31,277 Totals $31,277 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. when no adjustment is needed. 2. Prepare the adjusting journal entries required as of December 31. X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the adjusting journal entries required as of December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No Transaction General Journal Debit Credit 1 a. Depreciation Expense Accumulated Depreciation 2 b. Accounts Receivable 540 Service Revenue 540 3 C. 390 Utilities Expense Accounts Payable 390 4 d. Salaries and Wages Expense Salaries and Wages Payable 473