The trail balance for LB corp has the following balances in selected accounts on December 31, 2019. Accounts Receivable $0 0 6,650 0 Accumulated Depreciation - Equipment Equipment Interest Payable Notes Payable Prepaid Insurance Salaries and Wages Payable Supplies Unearned Service Revenue 20,000 2,220 0 2,940 30,000 All of the accounts have normal balances. The information below has been gathered at December 31, 2019. Prepare the adjusting entry: 3. LB Corp. paid $2,220 for 12 months of insurance coverage on October 1, 2019