When supplies are purchased (cash) for $1,000 the routine journal entries are: Select one: O a. Debit Supplies $1,000 and Credit Cash $1,000 O b. Credit Cash $1,000 and Debit Supplies Expense $1,000 c. Neither is correct If $600 of supplies are remaining at the end of the reporting cycle the adjusting entries are: (Note: The balance of the supplies account was $1,000 before making the adjusting entry) Select one: O a Debit Supplies $400 and Credit Supplies Expense $400 D b. Debit Supplies Expense $400 and Credit Supplies $400 c. Debit Supplies Expense $600 and Credit Supplies $600 At the end of the reporting period we want the supplies asset account to represent what we have on hand and the supplies expense account to represent what we have used. Select one: True False On Dec 31 the "unadjusted" Pre-Paid insurance balance is $3,600. The "expired" amount of prepaid insurance is determined to be $2,400. The adjusting entries are: Select one: O a. Debit Insurance Expense $2,400 and Credit Prepaid Insurance $2,400 b. Debit Insurance Expense $1,200 and Credit Prepaid Insurance $1,200 O c. Debit Prepaid Insurance $2,400 and Credit Insurance Expense $2,400 In the example above the "unexpired" prepaid insurance is $1,200 Select one: 2 True False