Prepaid $3600 cash for a one-year insurance policy. The account that gets debited is______ . The...

Prepaid $3600 cash for a one-year insurance policy. The account that gets debited is______ . The account that gets credited is_______.

Prepaid Insurance

Cash

Insurance Expense

Accounts Payable

Expert Solution

Answer:- Prepaid $3600 cash for a one-year insurance policy. The account that gets debited is Prepaid Insurance. The account that gets credited is Cash.

Explanation:-

Prepaid insurance a/c Debit $3600 & cash a/c Credit $3600.

ekkarill92 answered 2 years ago

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