Certain adjusting entries made at the end of an accounting period are reversed at the beginning of the following period. Required: Analyze the following four adjusting entries made on December 31, and determine whether a reversing entry is needed. Date Description Debit Credit Reversing entry Reversing entry necessary not necessary 150 Dec. 31 Salaries Expense Salaries Payable 150 31 Advertising Expense 450 Prepaid Advertising 450 31 Accounts Receivable 2,000 Service Revenue 2,000 520 31 Supplies Expense Supplies 520 X 5