For each separate case, record the necessary adjusting entry. 0. On July 1, Lopez Company paid $1,600 for s x months of insurance coverage No adjustments have been made to the Prepaid Insurance account, and it is now December 31 . b. Zim Company has a Supplies account balance of $5,600 at the beginning of the year. During the year, it purchases $2,300 or supples. As of December 31 . a physicai count of suppiles shows $950 of supplies avaliable Prepare the year-end adjusting entries to reffect expiration of the insurance and correcty report the balance of the supplies account and the Supples Expense account as of December 31 . Journal entry worksheet Fecord year end adjusting entry to reflect expiration of the insurance as of December 31 . For each separate case, record the necessary adjusting entry. a. On July L Lopez Company paid $1,500 for six months onnisurance coverage No adjustments have been made to the Prepaid insurance account, and it is now December 3i b. Zim Company has a Supplies account balance of $5,600 at the beginning of the year. During the year, it purchases $2,300 of supplies, As of December 31 , a physical count of supplies shows $950 of supplies available. Prepare the year end adjusting entries to refiect expiration of the insurance and correctly report the balance of the Supplies accour and the Supplies Expense account as of December 31 . Journal entry worksheet