1. a. The Prepaid Insurance account had a $4,500 debit balance on December 31, 2021, before adjusting for the costs of any expired coverage. An analysis of insurance policies showed that $3,200 of coverage had expired.
2. b. Salaries of $3,000 are earned by workers but not paid as of December 31, 2021
3. c. Prior to recording adjusting entries on December 31, a company’s Supplies account had a $780 debit balance. A physical count of the supplies showed $425 of unused supplies available as of December 31.

Prepare the required adjusting entry.

Answer rating: 100% (QA)

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