Situations a. Dec 1 - business receives $6,000 for a 10 -month service contract Dec 31 - year-end adjusting entry needed to update the balance in the account b. Mar 31 - work performed but not yet billed to customers for the month, $1,100 Apr 21 - received payment for the work that was completed. c. Jun. 15 - purchased $2,900 of office supplies on account Dec. 31 - a count of supplies shows that only $1,500 worth is left at year-end, so the balance in the account needs to be updated d. Feb. 2 - business paid a $650 deposit for the last month's rental of a copier on a 10 -month contract Nov. 30 - the rental period for the copier ended, so the balance in the prepaid account must be updated e. Jun. 1 - purchased truck for $37,100 (cash) with an expected useful life of seven years Dec 31 - year-end adjusting entry needed to record amortization