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Evaluate the adjusting entry on december is a

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Problem 1: On April 1, 2019, ABC Inc. paid for $18,000 for a one-year insurance policy. The adjusting entry on December 31, 2019 is a:

a. debit to Insurance Expense and a credit to Cash
b. debit to Insurance Expense and a credit to Prepaid Insurance
c. debit to Prepaid Insurance and a credit to Cash
d. debit to Prepaid Insurance and a credit to Insurance Expense
e. none of the above

Reference no: EM132689620

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