Refer to E4-6.

Required:
Prepare adjusting journal entries at December 31, 2018, for (a) insurance and (b) supplies.

Data from E4-6:

Fes Company is making adjusting journal entries for the year ended December 31, 2018. In developing information for the adjusting journal entries, you learned the following:

Unadjusted balance in Supplies on December 31, 2018..............................$15,000

Unadjusted balance in Supplies Expense on December 31, 2018................72,000

Supplies on hand, counted on December 31, 2018........................................10,000