Recording Prepaid Asset and Year-End Adjustment Atoz Co. purchased a 3-year insurance policy on September 1, for $8,640. a. Record the entry for the purchase of the insurance coverage on September 1, recording the full amount as prepaid insurance. b. Record the required adjusting entry on December 31. Note: Round your answers to the nearest dollar. For example, enter 50 for 50.49 and enter 51 for 50.50 . Recording Prepaid Asset and Year-End Adjustment AtoZ Co. purchased a 3-year insurance policy on September 1 , for $8,640. a. Record the entry for the purchase of the insurance coverage on September 1, recording the full amount as prepaid insurance. b. Record the required adjusting entry on December 31