The balance in the prepaid insurance account, before adjustment at the end of the year,...

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Accounting

The balance in the prepaid insurance account, before adjustment at the end of the year, is $22,500. Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment:
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a. The amount of insurance expired during the year is $18,000. If an amount box does not require an entry, leave it blank.
blankAccountDebitCredit
blank
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b. The amount of unexpired insurance applicable to future periods is $4,500. If an amount box does not require an entry, leave it blank.
blankAccountDebitCredit
blank

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