December 31, '16. A) Using the additional information given below, prepare the appropriate adjusting entries with explanations. B) Additionally, post the adjusting to the Ledger. (Follow the format of the first adjusting entry and posting to the ledger that has already been done.) 1) Revenues for work done, but not yet billed to customers is $4,000. 2) At December 31st, a third of the Unearned Revenue was earned. 3) A physical count of supplies at year-end revealed $1,000 on hand. 4) The annual Insurance policy was purchased Oct 1st, and debited to Prepaid Insurance. 5) The equipment was purchased on January 1st, '16 for $3,000. It has a 5 year estimated life. 6) The Note Payable was issued on July 1st with an annual interest rate of 10%. Interest will only be paid with the principle at July 1st '18. 7) An employee who earns $900 a month gets paid on the third day of the following month. Advanced Accounting LLC Adjusting Journal Entries December 31st, '16 1. Accounts Receivable Revenues $ 4,000 $ 4,000 Work completed, but not billed