HOW Calculator Adjusting entries for prepaid Insurance Instructions Chart of Accounts Journal Instructions The balance in the prepaid insurance account, before adjustment at the end of the year, is $18.420. The year end is March 31, Journalize the March 31 adjusting entry required under each of the following alternatives for determining the amount of the adjustmeer: (a) the amount of insurance expired during the year is $15.850: (b) the amount of unexpired insurance applicable to future periods is $2.570. Refer to the Chart of Accounts for exact wording of accounts Chart of Accounts Journal Accounts CHART OF ACCOUNTS General Ledger ASSETS REVENUE 11 Cash 41 Fees Eamed 12 Accounts Receivable EXPENSES 13 Supplies 14 Prepaid Insurance 15 Land 16 Equipment 17 Accumulated Depreciation-Equipment 51 Advertising Expense 52 Insurance Expense 53 Rent Expense 54 Salary Expense 55 Supplies Expense All work saved Chart of Accounts Journal Accounts 17 Accumulated Depreciation-Equipment LIABILITIES 54 Salary Expense 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense 59 Miscellaneous Expense 21 Accounts Payable 22 Unearned Fees 23 Salaries Payable 24 Taxes Payable EQUITY 31 Common Stock 32 Retained Earnings 22 Dividende All work saved ctions Chart of Accounts Journal ons art of Accounts LIADILITIES bo vuntes Expense 21 Accounts Payable 57 Depreciation Expense 22 Unearned Fees 59 Miscellaneous Expense 23 Salaries Payable 24 Taxes Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends All work saved Show Me How Calculator Adjusting entries for prepaid insurance Instructions Chart of Accounts Journal Journal (a) Journalize the March 31 adjusting entry required when the amount of insurance expired during the year is $15,850. Henter to the Chart of Accounts for exact wording of JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBUT CREDIT ASSETS Adjusting Entries LATES EQUITY