The balance in the prepaid insurance account before adjustment on December 31, 2007 is $5,000. The amount of expired insurance is $2,000. What account should be credited in the journal (2) and for what amount to record the adjusting entry for insurance based on this information? JOURNAL 25 Page debit date description p.ref. CREDIT Adjusting Entries (1) 12/31 (2) Insurance Expense $2,000 Insurance Expense $3,000 Prepaid Insurance $3,000 Prepaid Insurance $2,000

A one-year insurance policy was purchased on June 1 for $1,920. Journalize the adjusting entry required on December 31. If an amount box does not require an entry, leave it blank.   Dec. 31   - Select - - Select -     - Select - - Select -

zmo Company purchased a 1-year insurance policy on October 1 for $4,560. Journalize the adjusting entry on December 31. If an amount box does not require an entry, leave it blank. December 31 Insurance Expense Prepaid Insurance X X X 8 X

View Policies Current Attempt in Progress On July 1, 2022, Blossom Co. pays $12.000 to Nash's Insurance Co. for a 4-year insurance contract. Both companies have fiscal years ending December 31. For Blossom Co. journalize and post the entry on July 1 and the annual adjusting entry on December 31. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem) Debit Credit Date Account Titles and Explanation 100

Do a journal entry based on this transections, round interest amounts to the nearest dollar,

The balance in the prepaid insurance account before adjustment on December 31, 2007 is $5,000. The amount of expired insurance is $2,000. What account should be credited in the journal (2) and for what amount to record the adjusting entry for insurance based on this information?                                       JOURNAL                                                     Page     25 date description p.ref. debit CREDIT   Adjusting Entries       12/31 (1)   ?       (2)     ?   Group of answer choices Prepaid Insurance $3,000 Prepaid Insurance $2,000 Insurance Expense $2,000 Insurance Expense $3,000

Journalize the adjusting entries and post to the general ledger - Adjusting entries: 1. Expired insurance for the period $500 2.Accrued salary expense ( earned but not paid ) owed to Sophia LeBron,$5600. (Credit Salaries Payable. Payroll taxes are not considered in this entry. 3.Provision for uncollectible accounts estimated at 3.0% of March creadit sales,$927

Adjusting entries for prepaid insurance The balance in the prepaid insurance account, before adjustment at the end of the year, is $21,910. Journalize the adjusting entry required under each of the following alternatives for determining the amount of the adjustment: a. The amount of insurance expired during the year is $16,650. If an amount box does not require an entry, leave it blank. b. The amount of unexpired insurance applicable to future periods is $5,260. If an amount box does not require an entry, leave it blank. Σ .