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Kindly also explain with reason- the original and the ad justment journal entry On December 114, the compary purchased a 3-year insurance policy for $3,600

Kindly also explain with reason- the original and the adjustment journal entry
On December 114, the compary purchased a 3-year insurance policy for $3,600 (record the debit to prepaic insurance wien ardicck. What is the fournal entry to record this transaction? Detat Owners Witharawal Cresit Cavi Debit muirance foperise, Gredit Gash Debit Prepait inurance, Besti insurance I wente Debit Preasaid baurance, Eredit Cavh

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