Sunland Company's trial balance at December 31 shows Supplies $7,392 and Supplies Expense $0, On December 31, there are $924 of supplies on hand. Prepare the adjusting entry at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Credit Dec. 31 Debit Using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Post entries in the order of journal entries presented in the previous part.) Supplies Supplies Expense (1) Type of Adjustment (2) Accounts Before Adjustment a. Item Supplies of $336 are on hand. Supplies account shows $1,344 balance. b. Services performed but unbilled total $588. Interest of $252 has accumulated (and not paid) on a note payable d. Rent collected in advance totaling $924 has been earned. C. (1) Type of Adjustment Prepaid Expenses Accrued Revenues Accrued Expenses Unearned Revenues (2) Accounts Before Adjustment Assets Understated Expenses Overstated Revenues Understated Expenses Understated Assets Overstated Liabilities Overstated Liabilities Understated Revenues Overstated