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Required information PB4-4 (Algo) Identifying and Preparing Adjusting Journal Entries [LO 4-1, LO 4-2, LO 4-3, LO 4-6] The following information applies to the questions displayed below.) Learn to Play, Incorporated, is a one-person company that provides private piano lessons. Its unadjusted trial balance at December 31, 2021. follows, along with information about selected accounts. Account Names Debit Credit Further Information Cash $ 24,000 As reported on December 31 bank statement. Supplies 320 Based on count, only $210 of supplies still exist. Deferred Revenue $ 1,520 of this amount, $520 was received for December lessons and $1,000 for January lessons. Salaries and Wages Payable 0 The employee was paid $700 tor 10 days of work through December 29. She has not yet been paid for work on December 30 and 31. Income Tax payable 0 The company has paid last year's income tax but this year's taxes. Interest Payable 0 The company has not paid the $110 of Interest owed on its notes payable for the current period. Notes Payable 13,200 This one-year note was taken out this year on December 1. Comon stock 1,200 This amount was contributed for common stock in prior years. Retained Earnings 3,200 This is the balance reported at the end of last year. Service Revenge 24,320 Most customers pay cash for lessons each time they are provided, but some customers pay in advance Salaries and Wages Expense 18,300 The company's employee worked through December 31. Supplies Expense 820 This is the cost of supplies used through November 30. Interest Expenso 0 The company has not paid the $110 Of Interest owed on its notes payable for the current period. Income Tax Expense 0 The company has an average tax rate of 251. Total $ 43, 440 $ 43, 440 PB4-4 (Algo) Part 3 3. Prepare the adjusting Journal entries that are required at December 31, 2021. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction ist Journal entry worksheet 1 2 3 4 5 > Record the adjusting entry for supplies. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal