Prepare adjusting journal entries for the dog training business for the period ended December 31. December 31 One month of the 12-month, $3,600 insurance policy is expired by December 31. This leaves $3,300 not yet expired. December 31 A physical count of supplies on December 31 shows that only $1,200 of supplies remain of the $2,000 supplies purchased. December 31 The $6,000 of equipment purchased at the beginning of December has a useful life of 5 years and will be worth nothing at the end of 5 years (60 months). The business uses straight-line depreciation to allocate the $6,000 net cost over 60 months. On December 31, 1 month of depreciation must be recorded. December 31 The business agreed on December 23 to