The prepaid insurance account had a beginning balance of $3,755 and was debited for $6,755 of premiums paid during the year. Journalize the adjusting enty required at the end of the year, assuming the amount of unexpired insurance related to future periods is ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 15 Land 16 Equipment 17 Accumulated Depreciation-Equipment LIABILITIES 21 Accounts Payable REVENUE 41 Fees Earned EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Rent Expense 54 Salary Expense 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense Chart of Accounts Th LIABILITIES so Uuines experise 21 Accounts Payable 57 Depreciation Expense 22 Unearned Fees 59 Miscellaneous Expense 23 Salaries Payable 24 Taxes Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends The prepaid insurance account had a beginning balance of $3,755 and was debited for $6,755 of premiums paid during the year. Journalize the adjusting enty required at the end of the year, assuming the amount of unexpired insurance related to future periods is ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 15 Land 16 Equipment 17 Accumulated Depreciation-Equipment LIABILITIES 21 Accounts Payable REVENUE 41 Fees Earned EXPENSES 51 Advertising Expense 52 Insurance Expense 53 Rent Expense 54 Salary Expense 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense Chart of Accounts Th LIABILITIES so Uuines experise 21 Accounts Payable 57 Depreciation Expense 22 Unearned Fees 59 Miscellaneous Expense 23 Salaries Payable 24 Taxes Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends