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Your company is a furnace repair company. On December 1, 2015, your company sells a customer a 2-year service agreement for $2,400. The customer pays

Your company is a furnace repair company. On December 1, 2015, your company sells a customer a 2-year service agreement for $2,400. The customer pays $300 on December 1, 2015, and will pay $300 at the beginning of each quarter throughout the 2-year period. (You initially credited Unearned Revenue for the $300.)

The adjusting journal entry on December 31, 2015 is:

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