Adjustment for prepaid expense Instructions Chart of Accounts Journal Instructions The prepaid insurance account had a beginning balance of $4,500 and was debited for $16,600 of premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $5,600. Refer to the Chart of Accounts for exact wording of account titles Instructions Chart of Accounts Journal Instructions Chart of Accounts Th pre CHART OF ACCOUNTS General Ledger ins ASSETS REVENUE ac 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 15 Land 16 Equipment 17 Accumulated Depreciation- Equipment EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Rent Expense 54 Salary Expense 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense 59 Miscellaneous Expense LIABILITIES 21 Accounts Payable 22 Uneamed Fees 23 Salaries Payable 24 Taxes Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Instructions Chart of Accounts Journal Instructions Chart of Accounts Journal Joumate the trusting entry required at the end of the year December 31), assuming the amount of unexpied insurance related to Mature periods is $5,600. Rofer to the Chart of Accounts for exact wording of account files. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE POST. REF DENT CREDIT ASSETS LIABILITES EQUITY DESCRIPTION Adjusting Entries EQUITY 31 Common Stock 32 Retained Earringe 33 Dividends