Business, 19.07.2019 11:00 cmessick03

What is the proper adjusting entry at december 31, the end of the accounting period, if the balance in the prepaid insurance account is $7,750 before adjustment, and the unexpired amount per analysis of policies is, $3,250? a. debit insurance expense, $3,250; credit prepaid insurance, $3,250. b. debit insurance expense, $4,500; credit prepaid insurance, $4,500. c. debit prepaid insurance, $4,500; credit insurance expense, $4,500. d. debit insurance expense, $7,750; credit prepaid insurance, $7,750. e. debit cash, $7,750; credit prepaid insurance, $7,750?

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What is the proper adjusting entry at december 31, the end of the accounting period, if the balance...

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