BE4-5 On June 1, 2018, Bere Ltd. pays $6,000 to Safety Insurance Corp. for a one-year insurance policy. Both companies have fiscal years ending December 31 and adjust their accounts annually. (a) Record the June 1 transaction on the books of (1) Bere and (2) Safety. (b) Calculate the amount of insurance that expired during 2018 and the unexpired cost at December 31. (c) Prepare the adjusting entry required on December 31 by (1) Bere and (2) Safety. (d) Post the above entries and indicate the adjusted balance in each account