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Please help! thank you with this accounting question Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before adjustment at the end

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Adjusting Entries for Prepaid Insurance The balance in the prepaid insurance account, before adjustment at the end of the year, is $11,340.Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment: a. The amount of insurance expired during the year is $8,620. If an amount box does not require an entry, leave it blank. Insurance Expense Prepaid Insurance 07 Fondback b. The amount of unexpired insurance applicable to future periods is $2,720. If an amount box does not require an entry, leave it blank. Insurance Expense 0 Prepaid Insurance 0

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