nment CALCULATOR PRINTER VERSION BACK NEXT Exercise 3-20 Sheridan Company has the following balances in selected accounts on December 31, 2020. Service Revenue Insurance Expense Supplies Expense $90,000 4,380 2,700 1 All the accounts have normal bolonces. Sheridan Company debits prepayments to expense accounts when pold, and credits unarned revenues to revenue accounts when received. The following information below has been gathered at December 31, 2020 Sheridan Company paid $4,380 for 12 months of insurance coverage on June 1, 2020 On December 1, 2020, Sheridan Company collected 540,000 for consulting services to be performed from December 1, 2020, through March 31,2021 A count of supplies on December 31, 2020, indicates that supples of $200 are on hand, Prepare the adjusting entries needed at December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Od not indent manually.) Date Account Thies and Explanation Debit Credit 1 Dec. 31 No. 2 Dec 31 3. Dec. 31 2000 Al wat