Question 19 1 pts Ayres Corporation paid $18,000 only 1, 2020 for an insurance policy on its building for the next three years month Ayres makes its adjusting entries at the end of the year. On December 31, 2020. for the year ended December 31, 2020, what journal entry should Ayres make assuming no prior adjusting entry for this insurance has been made? Debit parance 2.000 de sance Expense 3.000 Debenarance Expense 3.000 Credit Prepaid in a 3.000 Debit insurance Expense 1.000 Credit Cash 18.000 Debit intrance Expense 3.000 Credit Ca 3.000 Question 20 1 pts Using the same information as in Question 19 above, what would be the balance in the Prepaid Insurance account at December 31, 2020 after adjustments are made $12.000 $3,000 $15.000 $16.000