true or false 5-6

Gallery Corp. paid $6,000 for a six-month insurance policy for the company van. The policy coverage began on January 1. On January 31, $1,000 of insurance expense must be reported. True False Question 5 (1 point) An adjusting entry only includes an entry to Cash when being done for a bank reconciliation. True False Question 6 (1 point) Adjusting entries are made after the preparation of financial statements. True