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Selected adjusted balances for the Parris Company are shown below as of January 31. The firm uses a calendar-year accounting period and makes monthly

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Selected adjusted balances for the Parris Company are shown below as of January 31. The firm uses a calendar-year accounting period and makes monthly adjustments. Adjusted Balances as of January 31 Supplies $3,200 Supplies expense 7,840 Prepaid insurance 3,640 Insurance expense 728 Wages payable 2,000 Wages expense 12,800 Truck 34,800 Accumulated depreciation 10,440 a. If the amount in Supplies Expense represents the January 31 adjustment for the supplies used in January, and $2,480 worth of supplies were purchased during January, what was the January 1 balance of Supplies? b. The amount in the Insurance Expense account represents the adjustment made at January 31 for January insurance expense. If the original insurance premium was for one year, what was the amount of the premium? $0 x On what date did the insurance policy start? March 1 c. If we assume that no balance existed in Wages Payable or Wages Expense on January 1, how much cash was paid as wages during January? $ 0 x d. If the truck has a useful life of five years, what is the monthly amount of depreciation expense? $ 0 x How many months has Parris owned the truck? months

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