The following information applies to the questions displayed below) Aubre Company's making adjusting entries for the year ended December 31 of the current year. In developing information for the adjusting entries, the accountant lamed the following a. A two-year insurance premium of 56,960 was paid on October of the current year for coverage beginning on that date. The bookkeeper debited the amount to Prepaid insurance on October b. At December of the current year, the following data relating to Shipping Supplies were obtained from the records and supporting documents Shipping supplies on hand, January 1 of the current year Purchases of shoping suples during the current year Shoping suples on hand, counted on December of the current $ 13,000 65.000 10.500 2. 2.00 points Required 1. Record the adjusting entry for insurance at December 31 of the current year. (Do not round Intermediate calculations, if no antry is required for a transaction event, select "No journal entry required in the View transaction in Journal entry worksheet + > Record the adjusting journal entry for insurance premium of $6,960 December 31 of the current year. Note: Enter debits before credits General Jouma Crede Recorder Clear entry View general jou 2.00 pont 2. Record the adjusting entry for supplies at December 31 of the current year, at tuming that the shipping supplies purchased during the current your wore debited into account Shipping Supplespil no ent View transactions Journal entry worksheet 1 Record the adjusting journal entry related to Shipping Supplies Note: Enter den before credits Transaction General Det Record entry Cearen View general journal References Book & Resources 4. 2.00 points 3. What amount should be reported on the current year's income statement for Insurance Expense? For Shipping Supplies Expense? (Do not round intermediate calculations.) Insurance expense Shipping supplies expense Hints References eBook & Resources 5. value 200 ports 4. What amount should be reconed on the curent year's balance sheet for Prepaid murance? For shipping Supplies? (Do not round intermediate calculations.) Prepaid ince Shoping supplies Hints References Boot & Resor