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Analysis of Adjusted Data Selected adjusted balances for the Parris Company are shown below as of January 31, The firm uses a calendar-year accounting

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Analysis of Adjusted Data Selected adjusted balances for the Parris Company are shown below as of January 31, The firm uses a calendar-year accounting period and makes monthly adjustments. Adjusted Balances as of January 31 Supplies $8,800 Supplies expense 21,560 Prepaid insurance 10,010 Insurance expense 2,002 Wages payable 5,500 Wages expense 35,200 Truck 95,700 Accumulated depreciation 28,710 a. If the amount in Supplies Expense represents the January 31 adjustment for the supplies used in January, and $6,820 worth of supplies were purchased during January, what was the January 1 balance of Supplies? $ 0 b. The amount in the Insurance Expense account represents the adjustment made at January 31 for January insurance expense. If the original insurance premium was for one year, what was the amount of the premium? $ 0 On what date did the insurance policy start? June 1 O

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