Immediately before the end of Year 1, XYZ Company has a debit balance of $2,000 in the Insurance Expense account. XYZ Company had the following adjusting entry at the end of Year 1: Required: a. Open t-accounts for Prepaid Insurance and Insurance Expense. Enter the $2,000 balance in the Insurance Expense account. Post the above adjusting journal entry to the t-accounts. b. Prepare the journal entry to close the insurance expense account. (Assume that insurance expense is the only expense account.) Post the entry to be insurance expense t-account. c. Prepare the appropriate reversing entry, including the entry's date. Post the entry to the t-accounts you opened in(a). d. Assume that XYZ paid a premium notice for insurance for $1, 800 on March 3, year 2, XYZ's accounting procedure is to debit an expense account for insurance premiums. Prepare the appropriate journal entry, and post the entry to the correct t-account you opened in (a). e. At the end of Year 2, XYZ determined that $200 of insurance expense was unexpired at the end of the year. Prepare the appropriate adjusting journal entry, and post it to the t-accounts you opened in (a). f. What is the proper amount of insurance expense for Year 2? g. Prepare the appropriate related journal entry for January 1, Year 3