On March $1,2024,$ Sage Hill Co$.$ paid $$5,160$ to $heffield Insurance for a one year insurance policy. Sage Hill Ca has a December $31$ fiscal year end and adjusts accounts annually. Complete the following for Sage Hill Co$.$

$($a$)$

Prepare the March $1,2024,$ journal entry for the purchase of the insurance. $($Credit account titles are autamatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List debit entry before credit enitry.$)$

Date Account Titles and Explanation

Debit

Credit

Mar. $1$