Required Information Exercise 5-19 (Static) 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 $6,000 on March 1, 2019. Exercise 5-19 (Static) Parta (2) 2-2. Prepare the journal entry to record the above transaction. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld.) View transaction list Journal entry worksheet 1 > Record the payment of a one-year insurance premium. Note: Enter debits before credits General Journal Debit Credit Date Mar 01 Required Information Exercise 5-19 (Static) 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 $6.000 on March 1, 2019. Exercise 5-19 (Static) 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.) View transaction list Journal entry worksheet > Record the expiration of prepaid insurance each month. Event General Journal Debit Credit C Prav Required Information Exercise 5-19 (Static) 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 $6,000 on March 1, 2019. Exercise 5-19 (Static) Part c. Calculate the amount of prepaid insurance that should be reported on the December 31, 2019, balance sheet with respect to this policy Prepaid insurance Required Information Exercise 5-19 (Static) 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 $6.000 on March 1, 2019. Exercise 5-19 (Static) Part d d. If the premium had been $12,000 for a two-year period, how should the prepaid amount at December 31, 2019. be reported on the balance sheet? Non-current asset Current asset