The balance in the prepaid insurance account, before adjustment at the end of the year, is $27,000. Journalize the 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 $20,250. If an amount box does not require an entry, leave it blank.

b.The amount of unexpired insurance applicable to future periods is $6,750. If an amount box does not require an entry, leave it blank.