Oops... When cleaning out his jacket pocket, Cy discovers a receipt for renter insurance for the storage locker. The renter insurance was purchased from Phoenix Insurance to provide insurance coverage for the inventory that Cy planned to store in the storage locker. Mookie The Beagle Concierge purchased $1$ month of renter insurance coverage for the period January $1$ through January $31,2024.$ Using the company credit card, Mookie The Beagle Concierge paid $$36\mathrm{.}00$ on January $16,2024$ for the $1$ month of insurance coverage.

So at the end of the accounting period on January $31,1$ month of rent had expired at $$36\mathrm{.}00.$ Since Mookie The Beagle Concierge had not recorded the transaction, the entire $$36\mathrm{.}00$ should be recorded as Renter Insurance Expense with an adjusting entry to bring accounts up to date at January $31.$