Required information [The following information applies to the questions displayed below.] Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2018, follows, along with information about selected accounts. Account Names Cash Supplies Prepaid Rent Accounts Payable Salaries and Wages Payable Debit $ 4,400 4,900 7,800 Credit $ 1,800 0 0 2,600 Income Tax Payable Common Stock Retained Earnings Service Revenue 900 85,700 Salaries and Wages 29,700 Expense Utilities Expense 12,800 Rent Expense 26,000 Supplies Expense Income Tax Expense Totals 5,400 0 $91,000 $91,000 Further Information As reported on December 31 bank statement. Based on count, only $1,600 of supplies still exist. This amount was paid November 1 for rent through the end of January. This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $510 of utility services through December 31 for which it has not yet been billed. Stylists have not yet been paid $150 for their work on December 31. The company has paid last year's income taxes but not this year's taxes. This amount was contributed for common stock in prior years. This is the balance reported at the end of last year. Customers pay cash when they receive services. This is the cost of stylist wages through December 30. This is the cost of utilities through December 15. This year's rent was $2,600 per month. This is the cost of supplies used through November 30. The company has an average tax rate of 25%. 3. Prepare the adjusting journal entries that are required at December 31, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)