For each separate case below, follow the three$-$step process for adjusting the prepaid asset account at December $31.$

Step $1$: Determine what the current account balance equals.

Step $2$: Determine what the current account balance should equal.

Step $3$: Record the December $31$ adjusting entry to get from step $1$ to step $2.$

Assume no other adjusting entries are made during the year.

a$.$ Prepaid Insurance. The Prepaid Insurance account has a $$6,400$ debit balance to start the year. A review of insurance policies shows that $$1,750$ of unexpired insurance remains at year$-$end.

b$.$ Prepaid Insurance. The Prepaid Insurance account has a $$7,590$ debit balance at the start of the year. A review of insurance policies shows $$1,720$ of insurance has expired by year$-$end.

c$.$ Prepaid Rent. On September $1$ of the current year, the company prepaid $$44,400$ for two years of rent for facilities being occupied that day. The company debited Prepaid Rent and credited Cash for $$44,400.$

$\backslash$table$[[$occupied that day. The company debited Prepaid Rent and credited Cash for $$44,400.,,,],[$Step $1$: Determine what the current account balance equals.,,,$],[,,,],[$Step $2$: Determine what the current account balance should equal.,,,$],[,,,],[$Step $3$: Record the December $31$ adjusting entry to get from step $1$ to step $2.,,,]]$