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 Dec. 31 Accounts Receivable 2,000 Service Revenue O O 2,000 31 Deferred Advertising Advertising Revenue 880 O o 880 31 Insurance Expense 890 Prepaid Insurance 890 31 Interest Receivable 1,200 Interest Revenue 1,200