Recording Prepaid Asset and Year-End Adjustment AtoZ Co. purchased a 3-year insurance policy on February 1, 2020, for $19,440. a. Record the entry for the purchase of the insurance coverage on February 1, 2020, recording the full amount as prepaid insurance. b. Record the required adjusting entry on December 31, 2020. Note: Round your answers to the nearest dollar. For example, enter 50 for 50.49 and enter 51 for 50.50. General Journal Ref. Account Name Cr. Prepaid Insurance 19,440 Cash 19,440 b. Insurance Expense 16,200 x Prepaid Insurance 16,200 x Dr. a. 0 0 0 O