Exercise $5-21($Algo$)$ Prepaid expenses$-$insurance LO $5-10$

$[$The following information applies to the questions displayed below.$]$

A company makes the payment of a one$-$year insurance premium of $$4,800$ on April $1,2022.$

Exercise $5-21($Algo$)$ Part b $(2)$

b$-2.$ Prepare the adjusting entry that will be made at the end of every month to show the amount of insurance premium "used" that

month.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

A

Record the expiration of prepaid insurance each month.

Note: Enter debits before credits.