Question: Analyze each situation and indicate the correct dollar amount for the adjusting entry. (Trial balance is abbreviated as TB.) 1. Amount of insurance expired is

Analyze each situation and indicate the correct dollar amount for the adjusting entry. (Trial balance is abbreviated as TB.) 1. Amount of insurance expired is $970. (Balance Sheet) Prepaid Insurance TB 1,450 Adj. fill in the blank 1 Bal. fill in the blank 2 (Income Statement) Insurance Expense Adj. fill in the blank 3 2. Amount of unexpired insurance is $565. (Balance Sheet) Prepaid Insurance TB 1,350 Adj. fill in the blank 4 Bal. fill in the blank 5 (Income Statement) Insurance Expense Adj. fill in the blank 6

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