a Journal Entries and Trial BalanceOn January 1, a company purchased supplies for $5,000 cash....

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Accounting

a Journal Entries and Trial BalanceOn January 1, a company purchased supplies for $5,000 cash. During the
month, it used $1,000 of the supplies. Prepare the necessary journal entries to record these transactions and the
adjustment at month-end.
b. A company pays $12,000 for a one-year insurance policy on september 1. What is the adjusting entry for
insurance expense at the end of the year (December 31)?
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