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2 Caesar & Co. paid $1,000 cash for a two-year insurance policy. What will be the Journal entry for the transaction? Odebit to Insurance Expense

2 Caesar & Co. paid $1,000 cash for a two-year insurance policy. What will be the Journal entry for the transaction? Odebit to Insurance Expense and a credit to Retained Earnings. debit to Insurance Expense and credit to Cash. Odebit to Prepaid Insurance and a credit to Cash. Odebit to Insurance Expense and a credit to Accounts Payable. 1 pts

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