If the Prepaid Insurance Account Had an Unadjusted Normal Balance

question 67

Multiple Choice

If the Prepaid Insurance account had an unadjusted normal balance of $3,400, and an adjustment was made crediting the account for $800, then the account would appear on the work sheet as a(n)

• A)$2,600 debit balance in the Balance Sheet columns.
• B)$800 credit balance in the Income Statement columns.
• C)$2,600 credit balance in the Adjusted Trial Balance columns.
• D)$800 credit balance in the Balance Sheet columns.
• E)$2,600 debit balance in the Income Statement columns.

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Definitions:

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