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What account would be debited in an adjusting entry for prepaid insurance?

A. Prepaid Insurance
B. Insurance Expense
OC. Unearned Revenue
D. Cash
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User Estephanie
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2 Answers

1 vote

Answer:xInsurance Expense

Step-by-step explanation:

User Shawnone
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3 votes

B. Insurance Expense would be debited in an adjusting entry for prepaid insurance.

When a company pays for insurance in advance, the amount paid is recorded as an asset called Prepaid Insurance.

User Jaskaran
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