Since Martin is expanding his business, he decides to purchase a general liability insurance policy from Protector Insurance Company. The annual premium is $360. It covers the period 1/1-12/31/22. You write a check (#1101) to pay the full year premium amount. (You add Protector Insurance as a vendor without adding any detail information.) You will make an adjustment to recognize insurance expense for January at the end of the month. TIP: Enter the policy period in the description or memo field. This will help when you make the adjustment as part of Chapter 5's assignment