I cant figure out why the 12/31 alance is wrong because i thiugbt inwas supposed to use this formula 8750(17,500/12)

Attempts: 1 of 3 used (a2) - Your answer is partially correct. For Ivanhoe Company, post the entries passed on July 1 and December 31. (Post entries in the order of journal entries presented in the previous part.) Prepaid Insurance 711 12/31 Bal. 1,458.33 17,500 1.458:33 12/31 Bal. 1.458.33 Insurance Expense 12/31 12/31 8750 8750 e Textbook and Media list of Accounts o e @ IO W 440 42000