What is the purpose of preparing an adjusted trial balance? To ensure that there have been no errors in recording the transactions To ensure that the correct accounts have been adjusted To ensure that total debits equal total credits after the adjustments have been recorded To ensure that all transactions have been recorded The Prepoid Insurance account has a normal balance of $5,625 at the beginning of the month. The company used $1,470 of insurance coverage during the month. Which of the following statements is correct