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The following insurance invoices were posted to the prepaid insurance account on July 15, 2023: Property For the period 7/1/23 to 6/30/24 156,000 General Liability

The following insurance invoices were posted to the prepaid insurance account on July 15, 2023: Property For the period 7/1/23 to 6/30/24 156,000 General Liability For the period 7/1/23 to 12/31/24 48,000 Auto (New Policy) For the period 8/1/23 to 7/31/24 12,000 The balance in the prepaid insurance account on 6/30/23 was zero. Write the journal entry that would be required to record insurance expense for July 2023. (5 points) Debit Credit

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