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2. Prepaid Insurance has an ending balance of P23,000. During the period, insurance in the amount of P12,000 expired. The adjusting entry would contain a

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2. Prepaid Insurance has an ending balance of P23,000. During the period, insurance in the amount of P12,000 expired. The adjusting entry would contain a debit to a. Prepaid insurance for P12,000 c. Prepaid insurance for P11,000 b. Insurance expense for P12,000 d. Insurance expense for P11,000

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