A firm purchased a three$-$year insurance policy for $$27,000$ on July $1,20$X$1.$ The $$27,000$ was debited to the Prepaid Insurance account.On December $1,20$X$1,$ a firm signed a contract with a local radio station for advertising that will extend over a two$-$year period. The firm paid $$72,000$ in advance and debited the amount to Prepaid Advertising. Prepare end$-$of$-$month adjusting entries for each of the above situations.