Concord Advertising Company's trial balance at December $31$ shows Supplies $$8,860$ and Supplies Expense $$0.$ On December $31,$

there are $$2,040$ of supplies on hand.

$($a$1)$ Prepare the adjusting entry at December $31.($List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

$($a$2)$ Using T$-$accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account.