Question 12/16 Your company bought an insurance policy for twelve months at $36,000 in January. What’s the amount…
The company bought a 12-month insurance policy at 36,000 dollars in January.
What’s the entry for recording the monthly insurance cost in March?
SELECT ONLY ONE
Debit Accrued Payables $3,000 Credit Insurance Expense $3,000
Debit Insurance Expense $3,000 Credit Cash $3,000
Debit Prepaid Insurance $3,000 Credit Insurance Expense $3,000
Debit Insurance Expense $3,000 Credit Accrued Liabilities $3,000
Debit Insurance Expense $3,000 Credit Prepaid Insurance $3,000
A 12-month assurance policy was acquired in December. 1 for $3600 and the prepaid insurance account was refunded the purchase. (1)…
Answer: Select All Select all that applies 12-month insurance plan was bought in December. 1. for 4,800. the insurance account was prepaid. (2 )…
A 12-month insurance plan was purchased in December. 1 for $3,600 . the prepaid insurance account was upgraded to meet the purchase. 14- Provide the one answer with zero votes: Explanation, the journal entry for Dec.1, could be prepaid insurance account debit of $3,600 Cash account credit $3,600 at the close of the month, that is
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