Gag Ltd has received 9,000 from several customers. Gag Ltd provide insurance cover for businesses, the payments from customers are for the annual insurance for the following year. What is the correct journal to enter the prepayment adjustment required at the year end? DEBIT 9,000 CREDIT Prepaid expenses 9,000 Deferred income (Select y own menu) Insurance expense Petty cash Bank Accrued income Insurance income Next pa ge Gag Ltd has received 9,000 from several customers. Gag Ltd provide insurance cover for businesses, the payments from customers are for the annual insurance for the following year. What is the correct journal to enter the prepayment adjustment required at the year end? DEBIT 9,000 CREDIT + 9,000 (Select yo wn menu) Prepaid expenses Deferred income Insurance expense Petty cash Bank Accrued income Insurance income Next page A business has taken out an annual licence at a cost of 9,496 which covers the period 01/08/X1 to 31/07/X2. Their year end is 28/02/X2. What is the value of the prepayment adjustment required at 28/02/X2? (Round to the nearest whole number) (Enter the value with no sign, comma or decimal places)