Depreciation for the current year includes Equipment, $3,700. The Accumulated Depreciation - Equipment unadjusted balance as of December 31 is $5,000. Adjustment Type: Depreciation Expense - Equipment Accumulated Depreciation - Equipment Dec 31 A two year insurance policy for $1,320 was purchased on November 1 of the current year. Record the transaction for the year ended December 31. Adjustment Type: Insurance Expense Prepaid Insurance Dec. 31 The unadjusted balance of Office Supplies at Dec. 31 is $11,500 and at year end the office supplies on hand totaled $4,750. Adjustment Type: Supplies Expense Office Supplies