Multiple Choice
Qwerty,Inc.prepaid $7,200 on November 1,2014 for a one-year insurance premium.On January 1,2015 of the next year (after December 31 adjustments) ,the Prepaid Insurance account will have a debit balance of ________.
A) $6,600
B) $7,800
C) $7,200
D) $6,000
Correct Answer:
Verified
Correct Answer:
Verified
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