If Prepaid Insurance Has an $82 Unadjusted Balance at December

question 153

Multiple Choice

If Prepaid Insurance has an $82 unadjusted balance at December 31 2022 and the insurance still unexpired amounted to $20 the year-end adjustment would contain a(n) :

• A)increase to Prepaid Insurance for $62.
• B)decrease to Prepaid Insurance for $20.
• C)increase to Insurance Expense for $62.
• D)increase to Prepaid Insurance for $20.

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