Purchases of supplies for cash during December were $3,300. Supplies on hand at the end of December equal $2,900. Record the adjusting entry on December 31. On November 28, 2024, Shocker receives a $2,100 payment from a customer for services to be rendered evenly over the next three months. Deferred Revenue is credited. Record the adjusting entry for deferred revenue at its year-end of December 31.