Instructions Chart of Accounts Journal Instructions The prepaid insurance account had a beginning balance of $3,755 and was debited for $6,755 of premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $2,640. Refer to the Chart of Accounts for exact wording of account titles. ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 15 Land 16 Equipment 17 Accumulated Depreciation-Equipment LIABILITIES 21 Accounts Payable 22 Unearned Fees 23 Salaries Payable 24 Taxes Payable REVENUE 41 Fees Earned EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Rent Expense 54 Salary Expense 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense 59 Miscellaneous Expense EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Journal Shaded cells have feedback. X Journalize the adjusting entry required at the end of the year (December 31), assuming the amount of unexpired insurance related to future periods is $2,640. Refer to the Chart of Accounts for exact wording of account titles. All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. DATE DESCRIPTION 1 Adjusting Entries 2 Dec. 31 Insurance Expense 3 JOURNAL PAGE 10 Score: 19/25 ACCOUNTING FOLIATION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 7,870.00 7,870.00 Points: 3.8/5