On November 1 of the Current Year,Salinger Company Paid $9,600 $\begin{array}{llr} \text { Nov. 01 } & \text { Insurance Expense} &9,600\\ &\text {Cash } &&9,600\\\end{array}$

Essay

On November 1 of the current year,Salinger Company paid $9,600 cash for a one-year insurance policy that took effect on that day.On the date of the payment,Salinger recorded the following entry:
$\begin{array}{llr} \text { Nov. 01 } & \text { Insurance Expense} &9,600\\ &\text {Cash } &&9,600\\\end{array}$

Assuming Salinger only prepares adjustments at year-end,prepare the required adjusting entry at December 31 of the current year.