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 Prepald Insurance account has a $$6,600$ deblt balance to start the year. A review of insurance policles shows that $$1,850$ of unexpired insurance remains at year$-$end.

b$.$ Prepaid Insurance. The Prepaid Insurance account has a $$7,790$ debit balance at the start of the year. A review of insurance policles shows $$1,800$ of insurance has expired by year$-$end.

$\backslash$table$[[,,],[$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 $2.,,],[,,],[,,]]$

c$.$ Prepaid Rent. On September $1$ of the current year, the company prepaid $$46,800$ for two years of rent for facilities being occupied that day. The company debited Prepaid Rent and credited Cash for $$46,800.$ Steps A$,$B$,$ and C please