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The following is a partial unadjusted Trial Balance.
Bravo Unlimited Unadjusted Trial Balance (partial) 1/31/16
Accounts Debit Credit
Cash $32,527
Prepaid Insurance 1,800
Insurance Expense 0
Question 1: The beginning balance in the Prepaid Insurance account on January 1, 2016 was $600 and represented five months of the building liability insurance. On, January 2, 2016, Bravo Unlimited purchased a 12 month motor vehicle insurance policy. Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment.
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