a. Details of the Prepaid Insurance account reveal a January 1 (beginning of the year) debit balance of $2,800 and a debit to the account on March 31 for $3,700 to record the payment of an annual insurance premium. At December 31, $1,900 is still prepaid. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry Accounts and Explanation Date Dec 31 Debit Credit

a. Details of the Prepaid insurance account reveal a January 1 (beginning of the year) debit balance of $2,800 and a debit to the account on March 31 for $3,700 to record the payment of an annual insurance premium. At December 31,$1,900 is still prepaid. (Record debits first, then credits Select the explanation on the last line of the journdl entry table)