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The Adjusted Balance for Prepaid Insurance Is a $7,124 Debit

Question 142

Multiple Choice

The adjusted balance for Prepaid Insurance is a $7,124 debit. Insurance Expense for the period was $1,336. What was the balance for Prepaid Insurance on the unadjusted trial balance?


A) $5,788 debit
B) $5,788 credit
C) $8,460 debit
D) $1,336 debit

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