Instructions: Record AJE at 12/31 and the initial or subsequent JE for each assuming no previous AJE has been made. For more practice do Quick Study 3-5 in the back of chapter 3 in your textbook.

Instructions: Record AJE at 12/31 and the initial or subsequent JE for each assuming no previous AJE has been made. For more practice do Quick Study 3-5 in the back of chapter 3 in your textbook. 1 - Prepaid Expense: Purchased one year insurance policy for $1,200 on 10/1. General Journal Account Name Ref Debit Credit Date 10/1 Initial JE AJE 31-Dec Prepaid Insurance Insurance Expense Bal. expired prepayments adj. balance adj. balance