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Question 14 (3 points) On November 1, 2022, ACME Corporation paid $12,000 for 3 months insurance. ACME Corporation has a December 31 year-end and adjust

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Question 14 (3 points) On November 1, 2022, ACME Corporation paid $12,000 for 3 months insurance. ACME Corporation has a December 31 year-end and adjust its accounts annually. REQUIRED: a. Calculate the amount of insurance used as of December 31. b. Prepare the adjusting journal entry required at December 31 . a. The amount of insurance used =$ b. The adjusting journal entry

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