Adjusting Entries for Prepaid Insurance

The balance in the prepaid insurance account, before adjustment at the end of the year, is $10,300. Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment:

a. The amount of insurance expired during the year is $7,830. If an amount box does not require an entry, leave it blank.

b. The amount of unexpired insurance applicable to future periods is $2,470. If an amount box does not require an entry, leave it blank