For each separate case below. follow the 3-step process for adjusting the supplies a December 31. Step I: Determine what the current account balance equals. Step 2: Det Prepaid (deferred) expenses adjustments current account balance should equal. Step 3: Record the December 31 adjusting entr to step 2. Assume no other adjusting entries are made during the year a. Supplies. The Supplies account has a $300 debit balance to start the year. No suppl y to ger f ies were during the current year. A December 31 physical count shows $110 of supplies remainins purcdhane b. Supplies. The Supplies account has an $800 debit balance to start the year. Supplies of $2.100 purchased during the current year and debited to the Supplies account. A Decemher 31 physical shows $650 of supplies remaining c. Supplies. The Supplies account has a $4,000 debit balance to stant the year. During the cunen supplies of $9,400 were purchased and debited to the Supplies account. The inventory of supple available at December 31 totaled $2,660. QS 3-7 Adjusting prepaid expenses a. On Jul; I, 2015, Lopez Company paid $1.200 for six months of insurance coverage. No adjust have been made to the Prepaid Insurance account, and it is now December 31. 2015. Prepare the nal entry to reflect expiration of the insurance as of December 31, 2015 b. Zim Company has a Supplies account balance of $5.000 on January 1, 2015. During 2015, it chased $2.000 of supplies. As of December 31. 2015, a supplies inventory shows $800 of supp available. Prepare the adjusting journal entry to correctly report the balance of the Supplies account and the Supplies Expense account as of December 31. 2015 aS 3-8 Accumulated depreciation adjustments P1 For each separate case below, follow the 3-step process for adjusting the accumulated depreciat count at December 31. Step 1: Determine what the current account balance equals. Step 2: Determ what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step I to step 2. Assume no other adjusting entries are made during the year a. Accumulated Depreciation. The Krug Company's Accumulated Depreciation account has a balance to start the year. A review of depreciation schedules reveals that S14,600 of depreciatio pense must be recorded for the year b. Accumulated Depreciation. The company has only one fixed asset (truck) thal it purchased at start of this year. That asset had cost $44,000. had an estimated life of five years, and is expected have zero value at the end of the five years c. Accumulated Depreciation. The company has only one fixed asset (equipment) that it purch the start of this year. That asset had cost $32.000. had an estimated life of seven years, and is expect to be valued at $4,000 at the end of the seven years. OS 3-9 a. Barga Company purchases $20.000 of equipmnL on la