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What is the adjusting entry when prepaid insurance expires? Select one: a. debit...

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Question

Accounting

What is the adjusting entry when prepaid insurance expires?

Select one:

a. debit insurance expense and credit prepaid insurance

b. debit prepaid insurance and credit insurance expense

c. debit prepaid insurance and credit cash

d. debit cash and credit insurance expense

Answer & Explanation Solved by verified expert
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