2 Online teachinx DoMyHomework123.com - Orde x + gnment/take Assignment Main.do?invoker=&takeAssignmentSessionLocator=&inprogress=false Adjustment for Insurance On December 1, a six-month liability insurance policy was purchased for $720. Analyze the required adjustment as of December 31 using Taccounts, and then formally enter this adjustment abbreviated as TB.) (Balance Sheet) Prepaid Insurance TB 720 TB Bal. (Income Statement) Insurance Expense Ad). Page: DATE ACCOUNT TITLE DOC. POST. NO. REF. DEBIT CREDIT 20- Dec. 31 Insurance Payable 720 2 o 1)