, 2011, Jupiter Corp had supplies on hand of $500. Daring the mot hased supplies of $ 1,200 and used supplies of $1,500. The March urnal entry should include esupphes account for s 1,500. to the supplies account for 3500 o the supplies account for $1,200 to the supplies account for $1,300, Supplies Inc. purchased a 12-month insurance policy on March arch 31, 2011, the adjusting journal entry to record expiration o o Prepaid Insurance and a credit to Cash for $900. o Prepaid Insurance and a credit to Insurance Expense for S100 o Insurance Expense and a credit to Prepaid Insurance for $75 o Insurance Expense and a credit to Cash for $75 1, 2011, Masters and Masters Company purchased equipme y is depreciating the equipment at the rate of $700 per mon equipment at December 31, 2011 is 0. 0. Page 2