The following information is taken from Booke Companys unadjusted and adjusted trial balances: Unadjusted Adjusted Debit Credit
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The following information is taken from Booke Company’s unadjusted and adjusted trial balances:
Unadjusted Adjusted Debit Credit Debit Credit Prepaid insurance . . . . . . . $4,100 $3,700 Interest payable . . . . . . . . . $ 0 $800 Given this information, which of the following is likely included among its adjusting entries?
a. A $400 debit to Insurance Expense and an $800 debit to Interest Payable.
b. A $400 debit to Insurance Expense and an $800 debit to Interest Expense.
c. A $400 credit to Prepaid Insurance and an $800 debit to Interest Payable.
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Related Book For
Financial Accounting Information For Decisions
ISBN: 9780073043753
4th Edition
Authors: John J. Wild
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