Financial Analysis Using Adjusted Account Data Selected T-account balances for Bloomfield Company are shown below as of January 31, which reflect its accounting adjustments. The firm uses a calendar-year accounting period, but prepares monthly accounting adjustments Supplies Jan. 31 Bal. 2,250 Supplies Expense Jan. 31 Bal. 2,400 Prepaid Insurance Jan. 31 Bal. 1,435 Insurance Expense Jan. 31 Bal. 205 Wages Payable 1,750 Jan. 31 Bal. Wages Expense Jan. 31 Bal. 8,000 Truck Jan. 31 Bal. 21,744 Accumulated Depreciation - Truck 5,134 Jan. 31 Bal. a. If the amount in supplies expense represents the January 31 adjustment for the supplies used in January, and $1,550 worth of supplies were purchased during January, what was the January 1 beginning balance of supplies? b. The amount in the insurance expense account represents the adjustment made at January 31 for January insurance expense. If the original insurance premium was for one year, what was the amount of the premium, and on what date did the insurance policy start? Amount of the premium $ The policy began on of the previous year. c. If we assume that no beginning balance existed in either in either wage payable or wage expense on January 1, how much cash was paid as wages during January? $ d. If the truck has a useful life of six years (or 72 months), what is the monthly amount of depreciation expense, and how many months has Bloomfield owned the truck? months