Question: For each separate case, record the necessary adjusting entry. 3 points Skipped eBook Hint References a . On July 1 , Lopez Company paid $

For each separate case, record the necessary adjusting entry.

3

points

Skipped

eBook

Hint

References

.

On July

1,

Lopez Company paid $

3, 000

for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December

31 .

.

Zim Company has a Supplies account balance of $

8, 600

at the beginning of the year. During the year, it purchases $

3, 800

of supplies. As of December

31,

a physical count of supplies shows $

1, 700

of supplies available.

Prepare the year

-

end adjusting entries to reflect expiration of the insurance and correctly report the balance of the Supplies account and the Supplies Expense account as of December

31 .

View transaction list

Journal entry worksheet

1

2

Record year

-

end adjusting entry to reflect expiration of the insurance as of December

31 .

Note: Enter debits before credits.

\

table

[[

Transaction

,

General Journal,Debit,Credit

], [

.,,,], [,,,], [,,,], [,,,], [,,,], [,,,]]

Record entry

Clear entry

View general journal

For each separate case, record the necessary adjusting entry. 3 points

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