On January 1, DogMart Company purchased a two-year liabilify insurance policy for $22,080 cash. The purchase was recorded to Prepaid insurance. Required: Propare the January 31 adfusting entry. Fiefer to the Chart of Accounts for exact wording of account tites Prepare the January 31 adjusting entry. Rofor to the Chart of Accounts far exact wording of account nobes. General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 16 Office Building 17 Accumulated Depreciation-Office Building LIABILITIES 21 Accounts Payable 22 Notes Payable 23 Unearned Fees 24 Wages Payable 25 Interest Payable REVENUE 41 Fees Earned EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Interest Expense 54 Wages Expense 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense 59 Miscellaneous Expense EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends