Piepare adjusting journal entries, as needed, for the following items. af no entry is required for a transaction/event, select "No journat entry required" in the first account field.) a. The Supplies account shows a balance of $500, but a count of supplies reveals only $270 on hand at year-end. b. The compsny initally records the payments of all insurance premiums as prepaid insurance. The unadjusted trial balance at yearend shows a bolance of $570 in Prepald insurance. A revew of insurance policies reveals that $150 of insurance is unexpired. c. Empioyees work Monday through Friday, and salaries of $2,600 per week are paid each Friday. The company's year-end falls on Tuesday. a. A year-end, the company received a utity bill for Decembers electricity usage of $260 that will be paid in early January. Journal entry worksheet The 5opplies account shows a balance of \$500, Eut a count of supplies reveals. only 1270 on tiend af year-end