The prepaid insurance account had a beginning balance of $9,600 and was debited for $12,900 of premiums paid during the...

 The prepaid insurance account had a beginning balance of $9,600 and was debited for $12,900 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 $7,360.