i need help with step $3$ please. Record the december $31$ adjusting entry to get from step $1$ to step $2.$

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 $$5,500$ debit balance to start the year. A review of insurance policies shows that $$1,300$ of unexpired insurance remains at year$-$end.

$\backslash$table$[[,,,$Debit or Credit?,Prepaid Insurance$],[$Step $1$: Determine what the current account balance equals.,$$,5,500,$Debit,$5,500,],[,,,4,200],[$Step $2$: Determine what the current account balance should equal.,$$,1,300,$Debit,$1,300,],[$Step $3$: Record the December $31$ adjusting entry to get from step $1$ to step $2.,,],[$Adjusting Entry,,,Credit,$],[$Insurance expense,,$4,200,,],[$Prepaid insurance,,,$4,200,]]$

b$.$ Prepaid Insurance. The Prepaid Insurance account has a $$6,690$ debit balance at the start of the year. A review of insurance policies shows $$1,360$ of insurance has expired by year$-$end.