Required information Exercise 5-19 (Algo) Prepaid expenses-insurance LO 10 [The following information applies to the questions displayed below.] A company makes the payment of a one-year insurance premium of $3,216 on March 1, 2019. Exercise 5-19 (Algo) Part b (2) b-2. Prepare the adjusting entry that will be made at the end of every month to show the amount of insurance premium "used" that month. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) i View transaction list View journal entry worksheet No Event General Journal 1 1 No journal entry required Debit Credit