Sunland Advertising Company's trial balance at December 31 shows Supplies 56,900 and Supplies Experse $0 On December 31, there are $2,800 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually Credit Date Account Titles and Explanation Debit Dec. 31 Supplies Supplies Expense On July 1, 2019. Pharoah Co. pays $17.200 to Wildhorse Insurance Co.for a 4-year insurance contract. Both companies have fiscal years ending December 31. For Pharoah Co., journalize and post the entry on July 1 and the adjusting entry on December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to decimal places, eg,5,275) Date Account Titles and Explanation Credit Debit Prepaid Insurance Insurance Expense