8) Jeannie's Apples opened for business on January 1,2024, and paid for two insurance policies effective on that date. The liability policy was $46,800 for 18 months, and the crop damage policy was $33,600 for a two-year term. What was the balance in Jeannie's Prepaid Insurance account as of December 31,2024 ? A) $48,000 B) $32,400 C) $16,800 D) $80,400 9) At the beginning of December, Coastal Corporation had \$1,500 in supplies on hand. During the month, supplies purchased amounted to $3,100, but by the end of the month the supplies balance was only $1,500. What is the appropriate month-end adjusting entry? A) Debit Cash $1,500, credit Supplies $1,500 B) Debit Cash $3,100, credit Supplies $3,100 C) Debit Supplies Expense $3,100, credit Supplies $3,100 D) Debit Supplies $3,100, credit Supplies Expense $3,100