Journalize the adjusting entry needed at December 31 for each situation. Record debits first, then credits. Check your spelling carefully and do not abbreviate. Use account names exactly as given in the Chart of Accounts. Completed services that were paid for six months earlier, $2,500. Accounts and explanation Date Debit Credit Depreciation for the current year includes Equipment, $2,000. Accounts and Explanation Date Debit Credit Rent for the year was prepaid on January 1 in the anTount of $5,280. Record the transaction for December's rent that has expired. Accounts and explanation Date Debit Credit