work i Saved Help Save & Ch a. On July 1, Lopez Company paid $2,300 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 $7,200 at the beginning of the year. During the year, it purchased $3,100 of supplies. As of December 31, a physical count of suppliles shows $1,350 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 es Journal entry worksheet 1 Record year-end adjusting entry to reflect expiration of the insurance as of December 31. Note: Enter debits before credits Debit Credit Transaction General Journal 4 of 13 29 Help 4 b. Zim Company has a Supplies account balance of $7,200 at the beginning of the year. During the year, it purchased $3,100 of supples. As of December 31, a physical count of supplies shows $1,350 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. ts View transaction list eBook Hint Journal entry worksheet Print References 1 2 Record the supplies used during the year Note: Enter debits before credits. Transaction General Journal Debit Credit br Mc Next >