On January 1, DogMart Company purchased a two-year liability insurance policy for $22,800 cash. The purchase was retorded to Prepaid Insurance. Prepare the January 31 adjusting entry. If an amount box does not require an entry, leave it blank. Jan. 31 On January 1, DogMart Company purchased a two-year liability insurance policy for $22,800 cash. The Prepare the January 31 adjusting entry. If an amount box does not require an entry, leave it blank. Jan. 31 Accounts Payable Accounts Receivable Cash Insurance Expense Prepaid Insurance On January 1, DogMart Company purchased a two-year liability insurance policy for $22,800 Prepare the January 31 adjusting entry. If an amount box does not require an entry, leave it Jan. 31 Accounts Payable Accounts Receivable Cash Insurance Expense Prepaid Insurance