Prepare the journal entries in the space provided below for the adjustments that would be made on July 31, 2020, the end of the fiscal year, for each of the following: 1. The supplies inventory on August 1, 2019, was $9,350. Supplies costing $ 20,650 were purchased 2. 3. 4. 5. during the fiscal year and debited to Supplies Inventory account. On July 31, 2020, the company indicated supplies on hand of $ 6,810. On April 30, a four-month, 3% (annual interest rate) note for $ 40,000 was received from a customer. On July 31 2020, $ 8,400 was collected as rent for one year and no entry has been made as of yet. On September 1st, 2019 the annual insurance premium was paid in full ($12,000) and debited to the prepaid insurance account. The last payroll of the year was on July 30th, 2020. Employees' wages for July 31st, 2020 totaled $6,200