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For each separate case, record the necessary adjusting entry.

a$.$ On July $1,$ Lopez Company pald $$1,200$ for six months of Insurance coverage. No adjustments have been made to the Prepald Insurance account, and it is now December $31.$

b$.$ ZIm Company has a Supplies account balance of $$5,000$ at the beginning of the year. During the year, It purchases $$2,000$ of supplies. As of December $31,$ a physical count of supplies shows $$800$ of supplies avallable.

Prepare the year$-$end adjusting entries to reflect explration of the insurance and correctly report the balance of the Supplies account and the Supplies Expense account as of December $31.$

Journal entry worksheet

$2$

Record year$-$end adjusting entry to reflect expiration of the insurance as of December $31.$

Note: Enter debits before credits:

$\backslash$table$[[\backslash$table$[[$Transaction$]],$General Journal,Debit,Credit$],[$a$.,,,\frac{?}{\text{b}\text{a}\text{r}}(x+1)$