On January 1,20C,the balance in the prepaid insurance account was $1,200.On December 31,20C,after the 20C adjusting entries were made,the balance of the prepaid insurance account was $1,000.During 20C,cash payments for insurance premiums amounted to $4,000,which was debited to the prepaid insurance account.Give the adjusting entry which must have been made at the end of 20C.

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The Answer of On January 1,20C,the balance in the prepaid insurance account was $1,200.On December 31,20C,after the 20C adjusting entries were made,the balance of the prepaid insurance account was $1,000.During 20C,cash payments for insurance premiums amounted to $4,000,which was debited to the prepaid insurance account.Give the adjusting entry which must have been made at the end of 20C.

On January 1,20C,the Balance in the Prepaid Insurance Account Was