1. Journal Entries

a) On September 1st, 2019, Jessicas Jellybean Company prepaid the annual insurance policy for $4,800. Prepare the adjusting entry that would be required at December 31st, 2019 (the end of the accounting period)

b) What will the balance of the pre-paid insurance account on the balance sheet of the company at December 31st, 2019

c) The beginning balance of supplies was $1,000. On September 1st , the company purchase $5,000 in the office supplies on credit. At the end of the period, there were only $500 of supplies remaining remaining in the supply closet. Prepare the journal entries required on September 1st and at December 31st

d) The company sold $5,000 jellybeans prices at $15 each. Most of the customers paid with cash, however 1,000 jellybeans were sold on credit. The cost of the jellybeans was $10 each. Make appropriate journal entries.