question #2

4 parts

Required information Exercise 5-21 (Algo) Prepaid expenses-insurance LO 5-10 [The following information applies to the questions displayed below] A company makes the payment of a one-year insurance premium of $4,776 on Aptil 1, 2022 xercise 5-21 (Algo) Part a (2) -2. Prepare the joumal entry to record the above transaction. lote: If no entry is required for a transoction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the payment of a one-year insurance premium. Note: Enter debits before credits. Required informotion Exercise 5-21 (Algo) Prepaid expenses-insurance LO 5-10 (The following information applies to the questions displayed below] A company makes the payment of a one-year insurance premium of $4,776 on April 1, 2022 Exercise 5-21 (Algo) Part b (1) b-1. Use the horizontal model to show the amount of insurance premium "used" at the end of the month. Note: Enter decreoses to account bolances with a minus sign. es-insurance LO 5.10 guestions displayed below! vear insurance premiam of $4776 on Apnil 1, 2022 int of insurance premium "used" at the end of the month. th o minus sign. Required information Exercise 5-21 (Algo) Prepaid expenses-insurance LO 5-10 [The following information applies to the questions displayed below] A company makes the payment of a one-year insurance premlum of $4,776 on Apni 1,2022. Exercise 5-21 (Algo) Part b (2) -2. Prepare the adjusting entry that will be made at the end of every month to show the amount of insurance premium "used" that nonth. lote: If no entry is required for a transaction/event, select "No journal entry required" in the first account neid. Journal entry worksheet Record the expiration of prepaid insurance each month. Noter Enter debits before eredits. Required information Exercise 5-21 (Algo) Prepoid expenses-insurance LO 5-10 [The following information appires to the questions displayed beiow] A company makes the payment of a one-year insurance premium of $4,776 on Apin 1, 2022 Exercise 5-21 (Algo) Part e e. Accounting for prepald experises achieves a better matching of revenues and expenises and yleids a more meaningfut measure of net income. Thue or Faste