On March 1, a business paid $3,840 for a 12-month liability insurance policy. On April 1, the business entered into a two-year rental contract for equipment at a total cost of $24,960. Determine the following amounts:

(a) Insurance expense for the month of March $

(b) Balance in prepaid insurance as of March 31 $

(c) Equipment rent expense for the month of April $

(d) Balance in prepaid equipment rental as of April 30 $