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Mountaineer Excavation operates in a low-lying area that is subject to heavy rains and flooding. Because of this, Mountaineer purchases one year of flood insurance in advance on March 1, paying $30,600 ($2,550/month). value: 1.00 points Required information o You did not receive full credit for this question in a previous attempt 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View transaction list view journal entry worksheet No Date General Journal Debit Credit 1 March 01 Prepaid insurance 30,600 Cash 30,600 2 December 31 Prepaid insurance 10,200 10.200 Cash