The baiance in the prepaid insurance account, belore adjustment at the end of the yoar, is $27,000 Joumalize the March 31 adjusting enty required under each of the following attematves for determining the amount of the adjustment: (a) the amount of insurance expired ouring the year is $80,250;(b) the amount of unexpired insurance applicable to future periods is $6,750. Refer to the chart of accounts for the exact wording of the account tites CNOW joumals do not use ines for joumal explanations, Every line on a joumal page is used for dobir or credit entries. CNOW journals will automatically indent a credit entry whon a credit amount is entered (a) Joumalize the March 31 adjusting entry required when the amount of insurance expired during the year is \$20.250. Refer to the chart of accounts for the exact wording of the account tales. CNOW journals do not use lines for joumal explanations. Every line on a joumat page is used for dobit or credit entries. CNOW joumals wi automatically indent a credt ontry when a credt amount is entered. (b) Journalize the March 31 adjusting entry required when the amount of unexpired insurance applicable fo fufure periods is $6,750. Reler fo the chant of accounts for the exact wording of the account tites. CNOW joumals do not use lines for joumal explanations. Every lne on a joumal page is used for debit or credit entries. CNOW joumals wil automatically indent a credit entry whon a credit amount is entered