Kirkland prepaid a two full year's insurance on October 1 of the current year, $48,000. Record insurance expense for the year ended December 31. b. Each Monday, Kirkland pays employees for the previous week's work. The amount of weekly payroll is $3, 500 for a five-day work week (Monday to Friday). This year, December 31 falls on Thursday. c. The beginning balance of Office Supplies was $2, 400. During the year. Kirkland purchased supplies for $2, 600, and at December 31 the office supplies on hand totaled $1, 200