The following list of accounts and their balances represents the unadjusted trial balance of Chesapeake Inc. at December 31, 2016 (assume previous year's transactions were properly made): At December 31, 2016, salaries and wages were expensed for $10, 400 for 7 days in December and 3 days in January 2017. Assume the original entry was accrued into accounts payable. On December 1st, 2016, Chesapeake Inc. purchased $800 of supplies from Office Depot. Chesapeake recorded this purchase into inventory. None of the supplies were used in 2016. $100 of the supplies were used in January 2017. On October 1st, 2016, Chesapeake paid $6, 625 for a 12 month insurance policy on the equipment. Chesapeake mistakenly booked $15, 800 of sales revenue into the rent revenue account. Chesapeake Inc. rents two warehouses for additional storage space for their inventory. On January 1st, 2016, Chesapeake paid the owners of one warehouse $30,000 for 24 months of rent payments covering 2016 and 2017. On October 31st, 2016, Chesapeake paid $14, 250 for 14 months' rent for the other warehouse covering rent form Nov. 1, 2016 through December 31st, 2017. On December 31st, 2016, the bookkeeper recorded $9, 400 of sales revenue (these inventory items were sold on credit on January 2nd, 2017 to a customer). The cost of the inventory sold was $6, 400. The revenue and COGS were recorded on December 31st. On March 1st, 2016, Chesapeake paid $1, 625 in advance for legal fees. The company used $500 for 2016 legal fees and will use the remaining advance payment to cover any legal costs incurred in 2017. The company purchased equipment costing $300,000 on Jan. 1st, 2014. The equipment has a salvage value of $42, 180 and a useful life of 15 years. There were no purchases made during 2016. Instructions: Record the necessary correcting and adjusting entries for 2016