ueuited or the tull amount. If financial statements prepared on July 3 1, the adjusting entry to be made by Runner's Sports Store is A) Debit Rent Expense, $8,000, Credit Prepaid Rent, $2,000. B) Debit Prepaid Rent, $2,000; Credit Rent Expense, $2,000 C) Debit Rent Expense, $2,000; Credit Prepaid Rent, $2,000. D) Debit Rent Expense, $8,000; Credit Prepaid Rent, $8,000. , As 8. At March 1, 2011, Jupiter Corp. had supplies on hand of $500. During the month, Jupiter purchased supplies of $1,200 and used supplies of $1,500. The March adjusting journal entry should include a A) debit to the supplies account for $1,500. B) credit to the supplies account for $500. C) debit to the supplies account for $1,200 D) credit to the supplies account for $1,500. (Ane 9. Hardwood Supplies Inc. purchased a 12-month insurance policy on March 1,2011 for S900. At March 31, 2011, the adjusting journal entry to record expiration of this asset. will include a A) debit to Prepaid Insurance and a credit to Cash for $900. B) debit to Prepaid Insurance and a credit to Insurance Expense for S100