Prepare journal entries for Iron Citys general fund for the following, including any adjusting and closing entries on December 31, 20X1 (the end of the fiscal year): Required: a. Acquired a three-year fire insurance policy for $5,100 on September 1, 20X1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet 1 Record the acquisition of the three-year insurance policy in 20X1. Note: Enter debits before credits. Date General Journal Debit Credit September 01