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Fast2F Fast2F
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6 years ago
Doug paid $1,200 on a one-year insurance policy on March 1. The entry included a debit to Prepaid Insurance. The adjusting entry on December 31 would include a:
A) debit to Insurance Expense for $1,000; and a credit to Prepaid Insurance for $1,000.
B) debit to Insurance Expense for $1,200; and a credit to Prepaid Insurance for $1,200.
C) debit to Cash for $1,200; and a credit to Prepaid Insurance for $1,200.
D) debit to Prepaid Insurance for $1,000; and a credit to Cash for $1,000.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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LaffioLaffio
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Fast2F Author
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#2
6 years ago
I wish I would have known about this service with my other classes.
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