Exercise Three: On December 31,20XX, the trail balance of Jordan Restaurant shows the following UNADJUSTED balan Required: An analysis of the accounts shows the following changes. Prepare the adjusting entries and post the transacti The account balances have been provided for you. On December 31 , supplies on hand amounts to $3,000. The equipment worth $40,000 was purchased on October 1 and has a salvage value of $5,000 and has a useful life of 5 years. $12,000 of unearned revenues have been earned by December 31 . The unearned revenue related to a food event to be completed in January, 20X1. Exercise Three: On December 31,20XX, the trail balance of Jordan Restaurant shows the following UNADJUSTED balan Required: An analysis of the accounts shows the following changes. Prepare the adjusting entries and post the transacti The account balances have been provided for you. On December 31 , supplies on hand amounts to $3,000. The equipment worth $40,000 was purchased on October 1 and has a salvage value of $5,000 and has a useful life of 5 years. $12,000 of unearned revenues have been earned by December 31 . The unearned revenue related to a food event to be completed in January, 20X1