takeAssignment/takeAssignmentMAUI.00 Adjustment for prepaid expense Instructions Chart of Accounts Journal Instructions The prepaid insurance account had a beginning balance of $3,135 and was debited for $6,050 of premiums paid during the year Joumatize the adusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $3,250. Refer to the chart of accounts for the exact wording of the account sites CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit eneles CNOW joumals will automatically indent a credit entry when a credit amount is entered