QS 3-7 Adjusting prepald expenses LO P1 a. On July 1, 2017, Lopez Company pald $2.800 for slx months of Insurance coverage. No adjustments have been made to the Prepald Insurance account, and It is now December 31. 2017 b. Zim Company has a Supplies account balance of $8,200 on January 1, 2017 During 2017, t purchased $3,600 of supplies. As of December 31. 2017, a supplies Inventory shows $1,600 of supplies avallable. Prepare the Journal entries to reflect explration of the Insurance and correctly report the balance of the Supplies account and the Supplies Expense account as of December 31, 2017. Vlew transaction 1st Journal entry worksheet Record journal entry to reflect expiration of the insurance as of December 31, 2017 Note: Enter debits before credits General Journal DebitCredit Transaction Record entry Clear entry Vew general journal