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Maple Tree Inc. purchased a 12-month insurance policy on March 1, 2019 for $900. At December 31, 2019, the adjusting journal entry to record expiration of this asset will include a Debit to Insurance Expense and a credit to Prepaid Insurance for $900 Debit to Prepaid Insurance and a credit to Insurance Expense for $100 Debit to Insurance Expense and a credit to Prepaid Insurance for $75 None of the above A Company purchased office supplies costing $6.000 and debited Office Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $2,400 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be: Debit Office Supplies Expense, $2.400 Credit Office Supplies, $2.400 Debit Office Supplies, $3,600; Credit Office Supplies Expense, $3,600 Debit Office Supplies Expense, $3,600, Credit Office Supplies $3,600 O o Debit Office Supplies, $2,400, Credit Office Supplies Expense, $2.400 A company usually determines the amount of supplies used during a period by:* Adding the supplies on hand to the balance of the Supplies account Summing the amount of supplies purchased during the period Taking the difference between the supplies purchased and the supplies paid for during the period Taking the difference between the balance of the Supplies account and the cost of supplies on hand Key Company collected $6,500 in October 1 of 2018 for 5 months of service which would take place from October of 2018 through February of 2019. The revenue reported from this transaction at the end of the 2018 adjusting entry would be: * $0 $3,900 $6,500 $2,600 At March 1, 2020, Candy Inc. had supplies on hand of $500. During the month, Candy purchased supplies of $1,200 and used supplies of $1,500. The March 31 adjusting journal entry should include a: * Debit to the supplies account for $1,500 Credit to the supplies account for $500 Debit to the supplies account for $1,200 Credit to the supplies account for $1,500

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