Q1 JE # 1 JE # 2 JE # 3 JE # 4 Business Insurance Annual Expense Coverage Period Here is the billing schedule of the insurance carrier. Invoice Schedule Invoice Amount Installment 1 Installment 2 Installment 3 Installment 4 $ 12,000.00 04/01/2020 - 03/31/2021 Installment 5 Installment 6 Installment 7 $ $ $ es is en is is $ $ Invoice Date 3,000.00 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. What GL account would you use when you record the installment 1 in the AP system? How much is the monthly expense? (Expense amount not payable amount) 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