Yummy Foods purchased a two-year fire insurance policy on August 1, 200x, debiting Insurance expense for the $4,200 premium. (a) Prepare the 8/1 journal entry & post to ledger below. (b) Prepare adjusting entry at December 31, 200X & post to ledger below. (c) Prepare any necessary reversing entry on Jan 1 and post to ledger below, or write no entry required. Description/Account Debit Credit Date 8/1 12/31 1/1 Cash Prepaid Insurance Insurance expense