All of the transactions of Starfish Tattoo Parlor Inc. for the year have been journalized and posted. The following information has been gathered for the adjustment process as of December 31, 2016 A) The Supplies account shows a balance of $960. A count of supplies revealed $410 on hand B) The $780 premium relating to a one-year insurance policy was paid on December 1, 2016 C) The company's equipment, which was purchased last year, depreciates at a rate of $700 per year D) On September 30, 2016, a customer paid $9,100 in advance for services. Of this amount, 30% was earned as of 12/31/16 E) Employees are paid $2,900 on Fridays for the 5-day work week, which ends on that Friday. However, December 31, 2016 falls on a Thursday The company has completed $420 of work for customers; the customers have not yet been billed and F) the related revenue has not been recorded Required a. Prepare the required adjusting entries required at December 31, 2016. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Supplies Expense 550 Supplies 550 2 Insurance Expense 65 Prepaid Insurance 65 Depreciation Expense 700 Accumulated Depreciation-Equipment 700 4 Unearned Revenue 2,730 Service Revenue 2,730 5 Salaries and Wages Expense 2,320 Salaries and Wages Payable 2,320 Accounts Receivable 420 Service Revenue 420