Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before adjustment at the end of the year, is $12,090. 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 $9,190. If an amount box does not require an entry, leave it blank. b. The amount of unexpired insurance applicable to future periods is $2,900. If an amount box does not require an entry, leave it blank