On September 1, Cook Company paid $10,800 for two years of insurance in advance. On September 1, Cook Company debited Insurance Expense, which is an alternate way of recording the initial expenditure. Required: Journalize the adjusting entry on December 31. Account Title Date Debit Credit Dec. (Choose one) Accounts Receivable 31 Advertising Revenue Insurance Expense Insurance Revenue Interest Expense Interest Payable Interest Receivable Interest Revenue Prepaid Advertising Prepaid maurance Rent Expense Rent Revenue Salaries Expense Salaries Payable Service Revenue Supplies Expense Supplies Taxes Expense Taxes Payable Deferred Advertising lerred insurance Revenue Explanatlon Utilities Expense Utilities Payable