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Question 6 (3 points) Dwight, Inc. is in its year-end process. You are assigned to go over the following event and prepare in the space

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Question 6 (3 points) Dwight, Inc. is in its year-end process. You are assigned to go over the following event and prepare in the space provided any adjusting journal entry necessary to bring the accounts up-to-date on December 31, 2017, the fiscal year-end of Dwight, Inc. Event: A one-year property insurance policy that was renewed on April 1, 2017 for $57,600. The entire payment was debited to Insurance Expense. No entry to the account has been made since the renewal of the insurance policy. Its Prepaid Insurance balance on December 31, 2017 was $13,800, the same as the balance on January 1, 2017 (3 points)

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