Unit 4-Chapter 4 Assic A company started the year + hm tpx E connect Phillips 5e Fundamentals of Financial ACCOUNTING Unit 4-Chapter 4 Assignment A Question 3 (ol value 10.00 points At December 31, the unadusted trial balance of H&R Tacks reports Prepaid Insurance of S5040 and Insurance Expense of $O. The insurance was purchased on July 1 and pr 1. Prepare the adjusting journal entry on December 31. (If no entry is required for a provides coverage for 24 months. transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet 1 December 31 Insurance Expense Type here to search 45