Prepare the year-end adjusting entries to reflect expiration of the insurance and correctly report the balance of the Supplies account and the Supplies Expense account as of December 31. View transaction list Journal entry worksheet 1 2 Record year-end adjusting entry to reflect expiration of the insurance as of December 31. Note: Enter debits before credits. Transaction General Journal Debit Credit a Record entry Clear entry View general journal LCR my work For each separate case, record an adjusting entry (if necessary). a. Barga Company purchases $39,000 of equipment on January 1. The equipment is expected to last five years and be worth $5,800 at the end of that time. b. Welch Company purchases $11,900 of land on January 1. The land is expected to last forever. Prepare the entries to record one year's depreciation expense of $6,640 for the equipment and what depreciation adjustment if any, should be made with respect to the Land account as of December 31? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet > 1 2 Record the depreciation adjustment on equipment on December 31. Note: Enter debits before credits Debit Credit Transaction General Journal Save & Exit Submit For each separate case, record an adjusting entry (if necessary). Check my work a. Barga Company purchases $39,000 of equipment on January 1. The equipment is expected to last five years and be worth $5,800 at the end of that time, b. Welch Company purchases $11,900 of land on January 1, The land is expected to last forever, Prepare the entries to record one year's depreciation expense of $6,640 for the equipment and what depreciation adjustment. if any, should be made with respect to the Land account as of December 31? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record depreciation adjustment on land, if any. Note: Enter debits before credits. General Journal Debit Credit Transaction b. M ws