On March 1, a business paid $5,280 for a 12-month liability insurance policy. On April 1, the business entered into a 2-year rental contract for equipment at a total cost of $21,360. a. Determine the insurance expense for the month of March. b. Determine the balance of prepaid insurance as of March 31. c. Determine the equipment rent expense for the month of April. d. Determine the balance of prepaid equipment rental as of April 30