journal entry required" in the first account field.) a. The Supplies account shows a balance of $580, but a count of supplies reveals only $280 on hand at year-end. b. The company initially records the payments of all insurance premiums as prepaid insurance. The unadjusted trial balance at year- end shows a balance of $520 in Prepaid Insurance. A review of insurance policies reveals that $120 of insurance is unexpired. c. Employees work Monday through Friday, and salaries of $3,100 per week are paid each Friday. The company's year-end falls on Tuesday. d. At year-end, the company received a utility bill for December's electricity usage of $270 that will be paid in early January. View transaction list Journal entry worksheet 1 2 3 4 The Supplies account shows a balance of $580, but a count of supplies reveals only $280 on hand at year-end. Note: Enter debits before credits Transaction General Journal Debit Credit a Supplies expense Record entry Clear entry View general journal