As of December 31. One month of insurance coverage has expired. (Note: J&L paid $2,400 for 12 months of insurance benefits beginning December 12 J&L takes inventory of unused supplies at December 31, and finds $8,670 of supplies in stock remaining. (Note: J&L purchased 9,720 of supplies in Nov/Dec) 3. J&L purchased office equipment for $26,000 in early November. The office equipment is expected to have a useful life of 4 years and be worth $8. 000 at the end of the 4 years. The owner also invested $2,000 worth of computer equipment in the business in early November. The computer equipment is expected to have a & year life and be worthless at the end of its life. Record the depreciation for the year (round to nearest month) J&L uses the straight-line method of depreciation 4. J&L agreed on December Ist to provide consulting services to a client for a fixed fee of $3. 000 for 60 days, which was recorded as "Unearned Revenue. As of December 31. 30 days of the contract has expired. The employees are paid every 2 weeks on Fridays. On December 12 and 26, the employees are paid. The calendar shows 3 working days from Dec 26 - Dec 31. The consulting lee will be collected at end of service period, on January 10