Mountaineer Excavation operates in a low-lying area that Is subject to heavy ralns and flooding. Because of this, Mountalneer purchases one year of flood insurence In advance on March 1, paying $36,000 $3,000/month). 1. Rer 7.00 points 1.& 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the purchase of insurance on March 1 Note: Enter debits before credits. Date Debit March 01 Record entry Clear entry View general joumal Mountaineer Excavation operates in a low-lying area that is subject to heavy ralins and flooding. Because of this, Mountalneer purchases one year of flood Insurance In advance on March 1, paying $36,000 ($3,000/month) Roquired information 700 points 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/levent, select "No journal entry required" in the first account field) View transaction list Journal entry worksheet Record adjusting entry on December 31. Note: Enter debits before credits. Record entry Clear entry View general journal