For each separate case, record the necessary adjusting entry. a. On July 1 , Lopez Company paid $2,200 for six months of insurance coverage. No : Prepaid Insurance account, and it is now December 31 . ints have been made to the b. Zim Company has a Supplies account balance of $7,000 at the beginning of the year, uning the year, it purchases $3,000 of supplies. As of December 31 , a physical count of supplies shows $1,300 of supplies available