Requirement 2. The four-column ledger accounts have been opened for you using the unadjusted trial balance. Post the adjusting entries to a. As of December 31, Faysville had $1,000 of Prepaid Insurance remaining. Review the journal entry you prepared in Requirement 1. PREPAID INSURANCE Balance Date Item Post. Ref. Debit Credit Debit Credit > 2024 Dec. 31 3,500 Balance (a) Dec. 31 INSURANCE EXPENSE Balance Date Item Post. Ref. Debit Credit Debit Credit 2024 0 Balance Dec. 31 Dec. 31 (a) Date Accounts and Explanation Debit Credit 2,500 (a) Dec. 31 Insurance Expense Prepaid Insurance 2,500 To record insurance expense