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Chapter 03 thoutwest question Powere Review View ACROBAT Tell me what you want to do Play Naritons the Timings Show Media Control Splendid Off no Splendid on Merah Perde Splendid Demo On October 1, Lin, Inc. paid $1,200 for an insurance premium on a three-year insurance policy. How does this transaction affect Lin's accounts? a. Increase insurance expense and decrease cash by $1,200 each b. Increase prepaid insurance and decrease cash by $1,200 each c. Increase unearned insurance and decrease cash by $1,200 each d. No effect at this time 59 add notes Note Comments