Multiple Choice
The adjusting entry to account for the expiration of prepaid insurance consists of:
A) a debit to Accumulated Depreciation and a credit to Prepaid Insurance.
B) a debit to Insurance Expense and a credit to Prepaid Insurance.
C) a debit to Insurance Expense and a credit to Accumulated Depreciation.
D) a debit to Prepaid Insurance and a credit to Accumulated Depreciation.
Correct Answer:
Verified
Correct Answer:
Verified
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