Gizmo Inc Purchased a One-Year Insurance Policy on October 1 for for $1,800

Gizmo Inc. purchased a one-year insurance policy on October 1 for $1,800. The adjusting entry on December 31 would be $$\begin{array} { | c | c | c | c | c | } \hline \text { Date } & \text { Description } & \text { Post. Ref. } & \text { Debit } & \text { Credit } \\\hline & & & & \\\hline & & & & \\\hline\end{array}$$

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$1,800/12 ...

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