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  3. at december 31, the unadjusted trial balance of h&

at december 31, the unadjusted trial balance of h&r tacks reports prepaid insurance of $6,960...

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Accounting

At December 31, the unadjusted trial balance of H&R Tacks reports Prepaid Insurance of $6,960 and Insurance Expense of $0. The insurance was purchased on July 1 and provides coverage for 24 months. Required: Prepare the adjusting journal entry on December 31. Post the beginning balances and adjusting entries to the following T-accounts

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