Adjusting Entries for Prepaid Insurance The balance in the prepaid Insurance account, before adjustment at the end of the year, is $13,5200 Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustments If an amount box does not require an entry, leave it blank. a. The amount of insurance expired during the year is $10,280. 88 b. the amount of unexpired Insurance applicable to future periods is $3,240