Im not sure what to put down for supplies.

hapter 4 HW Question 15 (of 22) value 0.50 points E4-6 Determining Adjustments and Accounting Equation Effects LO 4-1, LO 4-2 Fes Company is making adjusting journal entries for the year ended December 31, 2015. In developing information for the adjusting journal entries, you learned the following a. A two-year insurance premium of $6,600 was paid on January 1, 2015, for coverage beginning on that date. As of December 31, 2015, the unadjusted balances were $6,600 for Prepaid Insurance and S0 for Insurance Expense. b. At December 31, 2015, you obtained the following data relating to supplies Unadjusted balance in Supplies on December 31.2015 Unadjusted balance in Supplies Expense on December 31, 2015 Supplies on hand counted on December 31. 2015 S 12,000 66,000 7,600 Required: 1. of the $6 600 paid for insurance what amount should be reported on the 2015 income statement as Insurance Expense? What amount should be reported on the December 31, 2015, balance sheet as Prepaid Insurance? Insurance Expense Prepaid Insurance 3,300 Type here to search