QUESTION

15) Carson company purchased a 2-year insurance policy for $4,800 on January 1, 2010. The $4,800 was debited to the Pr

Category: Business
Subject: Accounting
Due Date: 01/27/2016
Question Asked: 2016-01-27 17:53:44

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15) Carson company purchased a 2-year insurance policy for $4,800 on January 1, 2010. The 

$4,800 was debited to the Prepaid Insurance account. What adjustment should be made to 

record expired insurance January 31, 2010?

 A. Debit insurance expense and credit prepaid insurance for $2,400. 

B. Debit prepaid insurance and credit insurance expense for $200. 

C. Debit prepaid insurance and credit insurance expense for $400. 

D. Debit insurance expense and credit prepaid insurance for $200.


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15) Carson company purchased a 2-year insurance policy for $4,800 on January 1, 2010. The $4,800 was debited to the Pr

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Posted on 2016-01-27 17:53:44

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... purchased a 2-year insurance policy for $4,800 on January 1, 2010. TheĀ $4,800 was debited to the...

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