On March 1, 2024, Blossom Co. paid \$3,120 to Novak Insurance for a one-year insurance policy. Blossom Co. has a December 31 fisca year end and adjusts accounts annually. Complete the following for Blossom Co. Prepare the March 1, 2024, journal entry for the purchase of the insurance. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.) Calculate the amount of insurance that expired during 2024 and the unexpired cost at December 31, 2024. Amount expired in 2024 $ Amount unexpired at December 31, 2024 $ Prepare the adjusting entry required at December 31, 2024. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)