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Business, 24.02.2020 20:59 montanolumpuy

A 12-month insurance policy was purchased on Dec. 1 for $4,800 and the Prepaid insurance account was initially increased for the payment. The required adjusting journal entry on December 31 includes a: (Check all that apply.)A) credit to Prepaid insurance for $400. B) debit to Insurance expense for $400. C) credit to Insurance expense for $400. D) debit to Prepaid insurance for $400. E) debit to Insurance expense for $4,800.

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A 12-month insurance policy was purchased on Dec. 1 for $4,800 and the Prepaid insurance account was...

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