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At the beginning of 2022, Mlinn ehf. insurance for the period from January 1 to December 31, 2022. The amount of the insurance was ISK

At the beginning of 2022, Mlinn ehf. insurance for the period from January 1 to December 31, 2022. The amount of the insurance was ISK 420,000. and the entire amount was transferred to the financial accounting on the financial key Prepaid Insurance on the day the insurance was purchased. During the financial settlement at the end of January, does the following settlement entry (adjusting entry) have to be made

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