eBook Apply for Financia... Cengage Show Me How Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before adjustment at the end of the year, is $11,420. Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment: If an amount box does not require an entry, leave it blank a. The amount of insurance expired during the year is $8,680. b. The amount of unexpired insurance applicable to future periods is $2,740. R