Q1 Business Insurance Annual Expense $ 12,000.00 Coverage Period 04/01/2020 - 03/31/2021 Here is the billing schedule of the insurance carrier. Invoice Schedule Installment 1 Invoice Amount Installment 2 Installment 3 Installment 4 Installment 5 Installment 6 Installment 7 ssssssssesses es $ $ 3,000.00 Invoice Date 3/15/2020 1,500.00 4/30/2020 $ $ 1,500.00 5/31/2020 1,500.00 6/30/2020 $ 1,500.00 7/31/2020 $ 1,500.00 8/31/2020 $ 1,500.00 9/30/2020 Assume no payment in March 2020 nor in April 2020. JE # 1 What GL account would you use when you record the installment 1 in the AP system? JE # 2 How much is the monthly expense? (Expense amount not payable amount) JE # 3 JE # 4 Do you amortize the expense in March 2020? If so, please prepare a month-end JE. Date GL Account Name Debit Credit Do you amortize the expense in April 2020? If so, please prepare a month-end JE. Date GL Account Name Debit Credit