Stahl Company paid $7,800 on May 1, 2008 for insurance coverage for a one year period beginning that date. The adjusting entry required to recognize insurance expense on December 31, 2008 would have what effect on the financial statements? = = B) Assets (2.600) (2600) (5.200) (5.200) L inh NA NA NA NA + + + + + Equity (2,600) 2600) (5,200) (5,200) Rev. NA VA NA NA Exp. 2.600 2600 5.200 3.200 Net In (2,600) (2600) (5,200) (5,200) Cash Flow NA 600) OA (5.200) OA = - NA Required information The following account balances were drawn from the 2011 financial statements of Gwynn Company Cash $2,250 Supplies $550 A/R 1,000 Common Stock ? 2,940 Land 1100 Retained earnings 5,550 Revenues Expenses 2,680 Based on the above information, what is the balance of Common Stock for Gwynn Company