Required information [The following information applies to the questions displayed below) A company makes the payment of a one year insurance premium of $4,824 on March 1, 2019. b.1. Use the horizontal model to show the amount of insurance premium 'used that month. (Use amounts with + for increases and amounts with - for decreases.) 140 k Balance Sheet Liabilities Assets Stockholders' Equity - Net Income ht Required information The following information applies to the questions displayed below) A company makes the payment of a one-year insurance premium of $4,824 on March 1, 2019. 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