Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 4 15,00U $ 72,000 Unadjusted balance in Supplies on December 31, 2013 Unadjusted balance in Supplies Expense on December 31, 2013 Supplies on hand, counted on December 31, 2013 10,000 2.5 points Required: Prepare adjusting journal entries at December 31, 2013, for (a) insurance, and (6) supplies. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) (57) ACG2021C Ch 4: Prepaid Insurance and Supplies Adjustments - YouTube Answer is complete but not entirely correct. No Transaction General Journal Debit Credit 1 a 3,600 Insurance Expense Prepaid Insurance 3,600 X 2 b 5,000 Supplies Expense Supplies 5,000 Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 4 Fes Company is making adjusting journal entries for the year ended December 31, 2013. In developing information for the adjusting journal entries, you learned the following: 2.5 points a. A three-year insurance premium of $7,200 was paid on January 1, 2013, for coverage beginning on that date. As of December 31, 2013, the unadjusted balances were $7,200 for Prepaid Insurance and $0 for Insurance Expense. b. At December 31, 2013, you obtained the following data relating to supplies. $ 15,000 Unadjusted balance in Supplies on December 31, 2013 Unadjusted balance in Supplies Expense on December 31, 2013 72,000 10,000 Supplies on hand, counted on December 31, 2013 Required: Prepare adjusting journal entries at December 31, 2013, for (a) insurance, and (b) supplies. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)