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rion 47 et ered What is the adjusting entry required for Prepaid Insurance on 31st...

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Accounting

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rion 47 et ered What is the adjusting entry required for Prepaid Insurance on 31st December 2018 for the following situation?Business purchased an insurance policy of OMR 900 for full one year on Ist December 2018. sed out of og stion O a. Debit Insurance Expenses OMR 300 Credit Prepaid Insurance OMR 300 O b. Debit Insurance Expenses OMR 600 Credit Prepaid Insurance OMR 600 c. None of these d. Debit Insurance Expenses OMR 75 Credit Prepaid Insurance OMR 75

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