if websavvy (an imginary web design organization) purchased an insurance policy for the automobile that...
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if websavvy (an imginary web design organization) purchased an insurance policy for the automobile that is used in the business, and the policy was for 24 months and the cost was $4,800, the entry to record this purchase is: a. debit to cash $4,800; credit to insurance expense for $4,800, b. debit to insurance expenses for $4,800: credit to cash for $4,800, c. debit to prepaid insurance for $4,800; credit to cash for $4,800, d. debit to cash for $4,800; credit to prepaid insurance for $4,800.
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