Journal entry worksheet 1 2 4 5 6. The Prepaid Insurance account had a $6,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's...

How do you adjust this account? This was my answer, but it said I incorrect.

Journal entry worksheet<br>1<br>2<br>4<br>5<br>6.<br>The Prepaid Insurance account had a $6,000 debit balance at December 31<br>before adjusting for the costs of any expired coverage. An analysis of the<br>company's insurance policies showed that $1,280 of unexpired insurance<br>coverage remains.<br>Note: Enter debits before credits.<br>Transaction<br>General Journal<br>Debit<br>Credit<br>b.<br>Insurance expense<br>1,280<br>Prepaid insurance<br>1,280<br>Record entry<br>Clear entry<br>View general journal<br>

Extracted text: Journal entry worksheet 1 2 4 5 6. The Prepaid Insurance account had a $6,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance policies showed that $1,280 of unexpired insurance coverage remains. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Insurance expense 1,280 Prepaid insurance 1,280 Record entry Clear entry View general journal

Jun 11, 2022

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Journal entry worksheet 1 2 4 5 6. The Prepaid Insurance account had a $6,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company's...

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