Question

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

A. Prepaid Insurance
B. Insurance Expense
OC. Unearned Revenue
D. Cash
SUBMIT

Answer 1

Answer:xInsurance Expense

Step-by-step explanation:

Answer 2

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.