Conten Question Content Area The balance in the office supplies account on June 1 was $4,029, supplies purchased during June were $2,159, and the supplies on hand at June 30 were $2,666. Determine the amount to be recorded as supplies expense for the June 30 adjusting entry.t AreaOn April 1, Smart, Inc., paid $7,200 for an insurance premium on a three-year insurance policy. How does this transaction affect Smart's accounts