On December 1, Hill Company paid $21,000 for two years of insurance in advance. On December 1, Hill Company debited Insurance Expense, which is an alternate way of recording the initial expenditure. Required: Journalize the adjusting entry on December 31 D Account Ti Debit Credit Dec. 31 Continue 1 2 N =M 3 4 $ 50 % 5 9 MacBook Pro > 4 & 6 7 Q W E R T Y A S D N X C H ol option command LL F G H > B Submit ' c = 8 9 O 1 P { I J N M K L 1 < > V- 20 4 H command x option