On October 1 of the Current Year,Morton Company Paid $9,600 $\begin{array}{|l|l|r|r|}\hline \text { Oct. 01 } & \text { Insurance Expense } & 9,600 & \\\hline & \text { Cash } & & 9,600 \\\hline\end{array}$

question 121

Essay

On October 1 of the current year,Morton Company paid $9,600 cash for a one-year insurance policy that took effect on that day.On the date of the payment,Morton recorded the following entry:
$\begin{array}{|l|l|r|r|}\hline \text { Oct. 01 } & \text { Insurance Expense } & 9,600 & \\\hline & \text { Cash } & & 9,600 \\\hline\end{array}$
Prepare the required adjusting entry at December 31 of the current year.

---

Definitions:

Heart Disease

A broad term for any condition affecting the heart, including coronary artery disease, heart attacks, congestive heart failure, and others, leading to impairment or failure of heart function.

Cardiovascular Risk Factor

Any attribute, characteristic, or exposure that increases the likelihood of developing cardiovascular disease, including factors like smoking, high blood pressure, and obesity.

High-Fat Diet

A diet that consists of a high proportion of fats, often exceeding the generally recommended intake levels for health.

Cardiovascular Disease

A class of diseases that involve the heart or blood vessels, including coronary artery disease, hypertension, heart failure, and stroke.