The prepaid insurance account had a beginning balance of

Last updated: 7/10/2022

The prepaid insurance account had a beginning balance of $4,120 and was debited for $1,980 of premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $1,770. If an amount box does not require an entry, leave it blank. Insurance Expense Prepaid Insurance