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Prepare adjusting entry for supplies. BE3.5 (LO 2), AP Lahey Advertising Company's trial balance at December 31 shows Supplies $8,800 and Supplies Expense $0. On December 31 , there are $1 Prepare the adjusting entry at December 31 and, using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balanc Prepare adjusting entry for depreciation. Prepare adjusting entry for prepaid expense. BE3.7(LO2), AP On July 1, 2022, Ling Co. pays $12,400 to Marsh Insurance Co. for a 24y ear insurance contract. Both companies have fis journalize and post the entry on July 1 and the annual adjusting entry on December 31 . Prepare adjusting entry for supplies. BE3.5 (LO 2), AP Lahey Advertising Company's trial balance at December 31 shows Supplies $8,800 and Supplies Expense $0. On December 31 , there are $1 Prepare the adjusting entry at December 31 and, using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balanc Prepare adjusting entry for depreciation. Prepare adjusting entry for prepaid expense. BE3.7(LO2), AP On July 1, 2022, Ling Co. pays $12,400 to Marsh Insurance Co. for a 24y ear insurance contract. Both companies have fis journalize and post the entry on July 1 and the annual adjusting entry on December 31

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