Stant Company is a small editorial services company owned and operated by Tracy Stant. On July 31, 2012, the end of the current year, Stant Company’s accounting clerk prepared the unadjusted trial balance:

Stant Company Unadjusted Trial Balance July 31, 2018
	Debit Balances	Credit Balances
Cash	$7,500
Accounts Receivable	38,400
Prepaid Insurance	7,200
Supplies	1,980
Land	112,500
Building	200,250
Accumulated Depreciation – Building		$137,550
Equipment	135,300
Accumulated Depreciation – Equipment		97,950
Accounts Payable		12,150
Salaries and Wages Payable
Unearned Rent		6,750
Tracy Stant, Capital		221,000
Tracy Stant, Drawing	15,000
Fees Earned		324,600
Salaries and Wages Expense	193,370
Utility Expense	42,375
Insurance Expense
Supplies Expense
Depreciation Expense
Advertising Expense	22,800
Repairs Expense	17,250
Miscellaneous Expense	6,075
	$800,000	$800,000

Journalize the following adjusting entry:

Unexpired Insurance on July 31, $3,500.

Date	Description	Debit	Credit
July 31