Assume that a firm reports net income of $45,000 prior to making adjusting entries for the following items: expired rent $3,500; depreciation expense, $4,100; and supplies used, $1,800. Assume that the required adjusting entries have not been made. What effect do these errors have on the reported net income? Net income will be by Check Desoto Company must make three adjusting entries on December 31, 2019. a. Supplies used, $5,500 (supplies totaling $9,000 were purchased on December 1, 2019, and debited to the Supplies account). b. Expired insurance, $4,100; on December 1, 2019, the firm paid $24,600 for six months' insurance coverage in advance and debited Prepaid Insurance for this amount c. Depreciation expense for equipment, $2,900. Required: Prepare the journal entries for these adjustments and post the entries to the general ledger accounts Complete this question by entering your answers in the tabs below. General Journal Ledger Prepare the journal entries for the above adjustments. View transaction list acer