nggenow takeAssig alse for Prepaid Insurance The prepaid insurance account had a balance of $7,300 at the beginning of the year. The account was debited for $8,100 for premiums on policies purchased during the year Journalize the adjusting entry required at the end of the year for each of the folloning situations: a. The amount of unexpired insurance applicable to future periods is $1,400 .1eex Insurance Expense x 1.4001 X Leaming Ojective 2 b. The amount of insurance expired during the year is $14,000. Insurance Expense 14,000 Prepaid Insurance A.100 X Learring Otjecive 2 more Check My Work uses remanng Previous Next All work saved