The beginning balance of the prepaid Insurance account contains the remainder of a one-year comprehensive business policy purchased on April 1 of the current year. Journal Entry

Account	PREPAID INSURANCE			Acct. No.	132
Date	Explanation	Ref.	DR	CR	Balance
6/1	Balance Forward				5,900
6/30		CDJ	12,000		17,900

Account	PREPAID INSURANCE			Acct. No.	132
Date	Explanation	Ref.	DR	CR	Balance
6/1	Balance Forward				5,900
6/30		CDJ	12,000		17,900