a. C. The following information pertains to the next four questions. Northwestern Company entered into the following transactions during the year: The company was started when it issued common stock for $8,000 cash. b. The company purchased land on January 1 that cost $5,800. Northwestern purchased $300 of supplies on account. d. Northwestern earned $6,200 of revenue on account. Cash collections of receivables were $5,500. f. On October 1st, Northwestern paid $1,200 in advance for a one-year insurance policy. Adjusting entry information: Supplies on hand as of December 31st amounted to $100. h. Recognized insurance expense. e. 17. a. The supplies reported on the December 31st balance sheet would be $300. b. $100. c. $200. d. $150