Prepaid Items by the company (Assets) a) Wolverine purchases a one-year property insurance policy on July 1, 2020, for $13.200. Record the necessary adjusting entry for December 31,2020. b) Office Supplies at the beginning of 2018 total $1,000. On August 15 , Wolverine purchases an additional $3,400 of office supplies, debiting the supplies account. By the end of the year: $500 of office supplies remains. Record the necessary adjusting entry