An accountant made the following adjustments at December 31, the end of the accounting period: LOADING... (Click the icon to view the adjustments.) Read the requirements. LOADING... Requirement 1. Journalize the adjusting entries. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Prepaid insurance, beginning, $ 400$400. Payments for insurance during the period, $ 2 comma 300$2,300. Prepaid insurance, ending, $ 300$300. Journal Entry Accounts Debit Credit a. Choose from any list or enter any number in the input fields and then click Check Answer. 6 parts remaining Clear All Check Answer Requirements 1

.	Journalize the adjusting entries.
2.	Suppose the adjustments were not made. Compute the overall overstatement or understatement of net income as a result of the omission of these adjustments.