I need help with A, B, and C:

QS 3-5 Prepaid (deferred) expenses adjustments LO P1 For each separate case below, follow the three-step process for adjusting the prepaid asset account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2 Assume no other adjusting entries are made during the year. a. Prepaid Insurance. The Prepaid Insurance account has a $5,800 debit balance to start the year. A review of insurance policies shows that $1,450 of unexpired insurance remains at year-end. DR or CR? 5,800 Debit Step 1: Determine what the current account balance equals. $ Prepaid Insurance 5,800 4,350 1.450 Step 2: Determine what the current account balance should equal. $ 1,450 Debit Credit Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. Adjusting Entry Debit Insurance Expense 4,350 Prepaid Insurance 4,350 b. Prepaid Insurance. The Prepaid Insurance account has a $6,990 debit balance at the start of the year. A review of insurance policies shows $1,480 of insurance has expired by year-end. DR or CR? 6,990 Debit Prepaid Insurance 6,990 Step 1: Determine what the current account balance equals. $ Step 2: Determine what the current account balance should equal. Debit Step 3: Record the December 31, adjusting entry to get from step 1 to step 2 Insurance Expense Prepaid Insurance c. Prepaid Rent. On September 1 of the current year, the company prepaid $37.200 for two years of rent for facilities being occupied that day. The company debited Prepaid Rent and credited Cash for $37,200 Prepaid Rent Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31, adjusting entry to get from step 1 to step 2