Allof the transactions of Starfish Tattoo Parlor Inc. for the year have been jounalized and postod. The following information has been gathered for the adjustment process as of December 31, 2016: A) The Supplies account shows a balance of $1,040. A count of supples revealed $380 on hand. B) The $1,200 premium relating to a ono-year insurance poliay was paid on December 1, 2016. C) The company's equipment, which was purchased last year, depreciates at a rate of $1,400 per year D) On September 30, 2016, a usto mer paid $10,700 in advance for services. Of this amount, 30% was eaned as of 12/31/16 E) Employees are paid $1,300 on Fridays for the 5-day work weok, which ands on that Fridey. However, December 31, 2016 falls on a Thursday The company has completed $570 of work for customers; the customers have not yet been billed and 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 transactionlevent, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record adjusting entry given that the supplies account shows a balance of $1,040. A count of supplies revealed $360 on hand at 12/31/16. Note: Enter debits before cred ts Transaction General Journal Debit Credit Record entry Clear entry View general journal 21