On August $1,$ Year $1,$ a company paid an $$21,600$ premium on a $36-$month insurance policy for coverage beginning on that date. Refer to that policy and fill in the blanks in the following table.

$\backslash$table$[[$Balance Sheet,Income Statement$],[$Prepaid Insurance,Insurance Expense$],[,$Accrual Basis,Cash Basis,,Accrual Basis,Cash Basis$],[$December $31,$ Year $1.,,,$Year $1,,],[$December $31,$ Year $2,,,$Year $2,,],[$December $31,$ Year $3,,,$Year $3,,],[$December $31,$ Year $4,,,$Year $4,,],[,,,$Total,$0,$$