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  3. a. on july 1 lopez company paid $3,000 for six mon

a. On July 1 Lopez Company paid $3,000 for six months of insurance coverage. No...

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Accounting

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a. On July 1 Lopez Company paid $3,000 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31 b. Zim Company has a Supplies account balance of $8,600 at the beginning of the year. During the year, it purchased $3,800 of supplies. As of December 31, a physical count of supplies shows $1,700 of supplies available. points Prepare the year-end adjusting entries to reflect expiration of the insurance and correctly report the balance of the Supplies account and the Supplies Expense account as of December 31 View transaction list Journal entry worksheet Record year-end adjusting entry to reflect expiration of the insurance as of December 31 Note: terens before credits Transaction General Journal Debat Credit View transaction list Journal entry worksheet Record year-end adjusting entry to reflect expiration of the insurance as of December 31. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal

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