At December 31, the unadjusted trial balance of H&R Tacks reports Supplies of $5, 280 and Insurance Expense of $0. The insurance was purchased on July 1 and provides coverage for 24 months. Prepare the adjusting journal entry on December 31. (If no entry is required for a transaction/event. select "No Journal Entry Required" in the first account field.) Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance