Val's Hair Empotum is a hair salon. Its December 31, 2020, unadjusted trial balance follows, along with information about selected accounts Accoont Name Cash Supplies Prepaid Rent Accounts Payable Debat $ 15,100 6,300 9,000 Mages Payable Income Tax Payable Contributed Capital Retained Earnings Hair Styling Revenue Wages Expense utilities Expense Hent Expense Supplies Expense Income Tax Expense Totals Further Information As reported on December 31 bank statement Based on count, only $3.700 of supplies still exist. This amount was paid November 1 for rent through the end of January $ 2,000 This represents the total amount of bill received for supplies and utilities through December 15. Val estimates that the company has received $700 of utility services through December 1 for which it has not yet been billed Stylists have not yet been paid $200 for their work on December 31. The company has paid last year's income taxes but not this year's taxes. 2,500 This amount was contributed to the company in prior years 1,900 This is the balance reported at the end of last year 105,800 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 $3,000 per month This is the cost of supplies used through November 30 The company has an average tax rate of percent. $112,200 31,600 1), 100 10,000 5, 100 $112,200 4. Prepare the adjusting Journal entries that are required at December 31, 2020. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list X > Record the supplies based on supplies count. Record the rent expense Record the wage expenses Record the amount of income tax 1 Record the utilities expense. / Credit 2.600 Note Journal entry has been entered