Prepaid Insurance								18,779	Total
Period Ending 1/31/21								18,779	G/L
								0	should be zero
Description	Begin Date	End Date	GL	# of Months	Cost	Begin Balance	Monthly Expense	End Balance
General Liability Insurance	7/30/20	7/29/21	6018	12	4,290.62	2,860.41	357.55	2,503
Workers Comp Insurance	8/1/20	7/30/21	6018	12	2,157.94	1,438.63	179.83	1,259
D&O Insurance	7/25/20	7/24/21	6018	12	4,680.00	3,120.00	390.00	2,730
Cyber Liability Insurance	7/31/20	7/30/21	6018	12	16,800.00	11,200.00	1,400.00	9,800
Property Insurance	8/1/19	1/31/21	6018	6	23,760.00	3,960.00	3,960.00	0
Auto Insurance	8/1/20	7/31/21	6018	12	4,264.20	2,842.80	355.35	2,487
Instructions:
Using the January Prepaid Insurance tab, create a new tab for February and complete the reconciliation. Prepare a Journal Entry for February prepaid insurance amortization.