Analyzing Accounts Using Adjusted Data Selected T-account balances for Fields Company are shown below as of January 31, 2014; adjusting entries have already been posted. The firm uses a calendar-year accounting period but prepares monthly adjustments. Supplies (A) Jan 31 Bal 6,400 Supplies Expense (E) Jan 31 Bal 7,600 Prepaid Insurance (A) Jan.31 Bal 4,592 Insurance Expense (E) Jan.31 Bal 656 Wages Payable (L) Jan 31 Bal 4000 Wages Expense (E) Jan.31 Bal 25,600 Accumulated Depreciation-Truck (XA) Jan 31 Bal 23,700 Truck (A) Jan. 31 Bal 69,600 (a) If the amount in Supplies Expense represents the January 31 adjustment for the supplies used in January, and $4,960 worth of supplies were purchased during January, what was the January 1 beginning balance of Supplies? $ $ (b) The amount in the Insurance Expense account represents the adjustment made at January 31 for January insurance expense. If the original insurance premium was for one year, what was the amount of the premium and on what date did the insurance policy start? $ OMay 1, 2013 OJune 1, 2013 Ojuly 1, 2013 OAugust 1, 2013 OSeptember 1, 2013 OOctober 1, 2013 ONovember 1, 2013 (c) If we assume that no beginning balance existed in Wages Payable or Wages Expense on January 1, how much cash was paid as wages during January? $ (d) If the truck has a useful life of five years, what is the monthly amount of depreciation expense? $ How many months has Fields owned the truck? months