Read through each situation below and on the following pages. After completing any necessary calculations prepare the required adjusting journal entry. When preparing the adjusting journal entries, use the account titles from the trial balance or the general ledger. Post each of the entries below to the trial balance and calculate the adjusted account balances. A one year insurance policy was purchased on August 31 for a premium of $18,000. In the space below show your calculations to receive full credit. Complete the required year-end (December 31,2021 ) adjusting entry below