Concord Corporation Trial Balance December 31, 2022 Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense $240 418 66 144 3200 $480 307 960 1120 2401 800 400 $5268 $5268 If, on December 31, 2022, the insurance still unexpired amounted to $16, the adjusting entry would contain a: credit to Prepaid Insurance for $16. debit to Prepaid Insurance for $16. debit to Insurance Expense for $50. debit to Prepaid Insurance for $50