The balance in the prepaid insurance account, before adjustment

at the end of the year, is $$18,655.$ The year end is March $31.$

Journalize the March $31$ adjusting entry required under each of the

following alternatives for determining the amount of the

adjustment: $($a$)$ the amount of insurance expired during the year is

$$15,945$; $($b$)$ the amount of unexpired insurance applicable to future

periods is $$2,710.$ Refer to the Chart of Accounts for exact wording

of account titles.