Record the following transactions on the horizontal spreadsheet below. For each transaction, identify the letter(s) and the amount that would be recorded. You may ignore all accounts that are not used to record the transaction. On August 1, V Company prepaid $18,000 cash for 1 year of insurance. On December 31, V Company adjusted insurance to record the amount used for the year. Balance Sheet Income Statement Cash Prepaid Insurance Supplies Utilities Salaries Unearned Common Retained Payable Payable Revenue Stock Earnings Net Revenue Expense Income 08/01 A B C D E F G H 12/31 L M N o P Q R S J K T U V