24 points Allied, Inc bought a 1-year insurance policy on August 1 for $3,900. The adjusting entry required on December 31 to record the expired insurance would include: A debit to insurance expense for $1,625 Acredit to cash for $1625 Adebit to prepaid insurance for $1.625 Acredit to cash for $3,900. 25 3 points Plant (hoxed) ansets that are depreciated are sometimes called: Current assets Long-term liabilities. Long-term assets O Accounts Payable 26 The balance in Urarned Revenue prior to adjustment was $3,150. If the amount still neared as of the end of the periodi $1,700, the adjusting entry needed would be to O Debit Cash 53.150; credit Unearned Revenue, $3,150. Debit Service Revenue 51.450, credit Uncanned Revenue 51.450 Debit Uneaned Revenue, 51.700;credit Service Revenue, $1.700 Debit Untamed Revenue 51.450 credit Service Revenue, 51.450