LSUS inc. purchased an oneyear hazard insurance polizy on August and recorded the $ premium to prepaid insurance. suppose the policy will be usad everly every month, at its December yearend, LSUS inc would record which of the following adjusting entries?
a Debit insurance expense by $ credit prepaid insurance by $
b Debit insurance expense by $ credit prepaid insurance by $
c Debit insurance expense by $ debit prepaid insurance by $ credt accounts payable by $
d Debit prepaid insurance by $ credit insurance expense by $
