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Lake Shore Industries has a year-end on December 31, 2020. The following information is available at year-end for the preparation of adjusting journal entries: a. On September 1, 2020, a twelve-month insurance policy was purchased for $3,840 and debited to prepaid insurance. b. On July 10, 2020, Lake Shore Industries accepted a $6,000 deposit for consulting work to be completed during the year. The deposit was recorded to unearned revenue. On December 31, 2020, $4,420 of the work for the client had been completed. c. The unadjusted balance in the supplies account was $1,825. A physical count of the supplies on December 31, 2020 revealed supplies on hand of $555. d. Equipment was purchased January 1, 2019 for $39,500. It is estimated that the equipment will have a useful life of 5 years with an estimated value at the end of its estimated useful life of $4,500 e. Provided services to clients totaling $3,250 that have not been billed or collected. f. A note payable executed on Jan 1, 2019 in the amount of $35,000 has accrued interest of $1,750 that has not been paid or recorded. g. On December 31, 2020 the utility bill was received in the amount of $476. It is due January 9, 2021. REQUIRED: Prepare the annual adjusting journal entries for the year ending December 31, 2020. Use the general journal form provided below

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