i need to record prepaid insurance of 2400 and adjust the two sides

Peyton Approved Balance Sheet Liabilities and Owners' Equity Assets Current Assets Current Liabilities: Interest Payable Account Payable 1,100.00 175.65 5,000.00 80.00 5,530.00 se Inventory (FIFO) Total Current Liabilities Prepaid Insurance Prepaid Rent Office Supplies 1,500.00 Notes Payable Total Long-Term Liabilities: 15,530.00 Total Liabilities: 42,762.40 Total Current Assets Equity Wages Payable Long-Term/Fixed Assets: Baking Equipment 5,750.00 Total Long-Term/Fixed Assets 32,982.40 Total Equity 48,512.40 Total Assets: 48,512.40 Total Liabilities & Equity 2018 Adjusted trial balance Account Debit Credit Credit 32,236.75 17,400 1.100.00 175.65 1,500.00 175.65 Rent 1,500.00 6,000.00 600.00 2,400.00 6,000.00 250.00 50.00 7,700.00 700.00 10,000.00 50.00 5,000.00 50.00 5,000.00 480.00 16,000.00 mon Stock 16,000.00 10,000.00 10,000.00 55,000.00 221.00 55,000.00 Merchandise Sales 221.00 17,400.00 4,500.00 50.00 2,400.00 250.00 250.00 550.00 375.00 200.00 17,400.00 4,500.00 50.00 2,400.00 250.00 ense Insurance Expense Depreciation Expense 250.00 550.00 375.00 200.00 1,956.00 150.00 157.60 Business License Expense Advertising Expense Telephone Expense 1,956.00 150.00 5 157.6 COGS (FIFO) 86,701.0086,701,00 20,650.00 20,650.00 8700100 87,001.00