Quiz: Chapter 3 (Begin Quiz G How often musta company are using jo Question 9 2 pts If the Supplies account had a balance before adjustment of $4.000 and the clerk counted the supplies on hand to find that the balance is only $800. What would the prepaid expense adjusting journal entry include? Debit to Supplies for $800 Credit to Supplies Expense for $3200 Debit to Supplies Expense $800 Debit to Supplies Expense for $3200 Question 10 2 pts Purple Co. purchased a 12 month policy for $4800 on September 1st. When Purple Co is preparing adjusting journal entries for the first time on December 31st, what would the prepaid expense adjusting Journal entry include? Debit Prepaid Insurance $4.800 Credit Insurance Expense 51,600 Debit Prepaid Insurance $1.600 Credit Prepaid Insurance $1,600 BO 29 2 00 Dopo FVE 73 24 : $ 4 012 0) > 8 7 C 9 00 W E R T Y P U o