Lancaster Company must make three adjusting entries on December 31, 20X1.
a. Supplies used, $11,000 (supplies totaling $18,000 were purchased on December 1, 20X1, and debited to the Supplies account).
b. Expired insurance, $8,200; on December 1, 20X1, the firm paid $49,200 for six months’ insurance coverage in advance and debited Prepaid Insurance for this amount.
c. Depreciation expense for equipment, $5,800. Make the journal entries for these adjustments and post the entries to the general ledger accounts: Use page 3 of the general journal for the adjusting entries. Use the following accounts and numbers.

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Supplies Prepaid Insurance Accum. Depr.-Equip. Depreciation Exp.-Equip. Insurance Expense Supplies Expense 121 131 142 517 521 523