Window Help 7% D Tue 1:17 Wk. 4-Apply: Exercise Exercise 6 Exercise Saved Help Save & Exit S 1. A firm purchased a three-year insurance policy for $5,760 on July 1, 2019. The $5,760 was debited to the Prepaid Insurance account. 2. On December 1, 2019, a firm signed a contract with a local radio station for advertising that will extend over a two-year period. The firm paid $27,840 in advance and debited the amount to Prepaid Advertising Prepare end-of-month adjusting entries for each of the above situations. View transaction ist Journal entry worksheet Prepare the adjusting entry for insurance. Note: Enter debits before credits Debit Credit General Journal Next>