SOLID FOOTING 221 Chapter 7-Homework Forms Name: Forms for: Problem 7-5 Prepaid Insurance and the Requirement 1-September 1 advance payment of the two insurance policies Section:- Monthly Prepaid Insurance Adjusting E Date Account Name Debit Credit Requirement 2-Auto and Truck Prepaid Insurance timeline In the boxes above the timeline, indicate the amount of remaining Prepaid Insurance related to the Auto and Truck insurance policy for each date on the timeline. In the boxes below the timeline, indicate the amount of Prepaid Insurance that expires (is used-up) during each of the three months. Sept. 1 Sept. 30 Oct. 31 Nov. 30 September October Month 1 Month 2 Month 3 Requirement 3-Business Liability Prepaid Insurance timeline In the boxes above the timeline, indicate the amount of remaining Prepaid Insurance related to the Business Liability insurance policy for each date on the timeline. In the boxes below the timeline, indicate the amount of Prepaid Insurance that expires (is used-up) during each of the four months. Sept. 1 Sept. 30 Oct. 31 Nov. 30 Dec. 31 September October November December Month! Month 2 Month 3 Month 4