The balance in the prepaid insurance account, before adjustment at the end of the year, is $$22,500.$ Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment:Question Content Areaa. The amount of insurance expired during the year is $$18,000.$ If an amount box does not require an entry, leave it blank.blankAccountDebitCreditblankQuestion Content Areab. The amount of unexpired insurance applicable to future periods is $$4,500.$ If an amount box does not require an entry, leave it blank.blankAccountDebitCreditblank