Question: 22. Module 2 Problem Set Adjustment for Prepaid Expense The prepaid insurance account had a beginning balance of $11,500 and was debited for $18,000 of

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22. Module 2 Problem Set Adjustment for Prepaid Expense The prepaid insurance

Module 2 Problem Set Adjustment for Prepaid Expense The prepaid insurance account had a beginning balance of $11,500 and was debited for $18,000 of premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $13,000. If an amount box does not require an entry, leave it blank

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