4. On June 1, 200, your company takes out a 1 year insurance policy for $8,600 and prepays the entire amount, recording it as an asset. At yearend 200, you discover an adjusting entry that records one year's insurance expense of $1,800. a. What is the correcting journal entry? b. If no correcting journal entry is recorded, how are the 20X0 income statement and balance sheet, respectively, affected