Lake of Fire Company purchased supplies costing $7000 and debited Supp 2000 addebited Supplies for the full on the end of the accounting period, a physical count of supplies revealed 55000 still appropriate adjusting journal entry to be made at the end of the period would be: on hand. The appropriate adjusting journal entry to a. Debit Supplies Expense, S2000: Credit Supplies, $2000 b. Debit Supplies Expense, S5000: Credit Supplies, 300. c. Debit Supplies, 55000; Credit Cash, $5000. d. Debit Supplies, $2000; Credit Cash, $2000. ats Murmur Company's Insurance 19. At December 31, 2020. before any year-end adiustments, Murmur Company prise account had a balance of $2.000 and its Prenaid Insurance account had a balance $9.000. It was determined that $1.500 of the Prepaid Insurance had expired. The adjusted balance for Insurance Expense for the year would be a $1,500. b. $3,500. c. $4,000. d. $6,000. 20. Fugazi City College sold season tickets for the 2018 football season for $240,000. A total of 12 games will be played during September, October and November. In September, two games were played. In October, five games were played. The balance in Unearned Ticket Revenue at October 31 is: a. 90,000 b. 100,000 c. 140,000 d. 150,000 21. On January 1, 2020, Superfuzz Company purchased equipment for $40,000. The company is depreciating the equipment at the rate of $700 per month. The book value of the equipment at November 30, 2020 is a. $7,700. b. $30,400 c. $31,600. d. $32,300