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 $4,080 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 premi "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 Journal entry worksheet Record the expiration of prepaid insurance each month. Note: Enter debits before credits. Journal entry worksheet