For each separate case, record the necessary adjusting entry. a. On July 1, Lopez Company paid $2,200 for six 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 $7.000 at the beginning of the year. During the year, it purchased $3,000 of supplies. As of December 31, a physical count of supplies shows $1,300 of supplies available. points 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 Record the supplies used during the year. Note: Enter debits before credits December 31. Note: Enter debits before credits. Debit Credit Transaction General Journal Insurance expense Prepaid insurance 2,200 Clear entry View general journal Record entry Record the supplies used during we year. Note: Enter debits before credits. Transaction Credit General Journal Supplies expense Supplies Debit 5,400 Record entry Clear entry View general journal