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A company purchased a three-month insurance policy for $450 on December 1. On December 31, the company should: Answer Debit prepaid insurance and credit insurance

A company purchased a three-month insurance policy for $450 on December 1. On December 31, the company should: Answer Debit prepaid insurance and credit insurance expense, $450. Debit insurance expense and credit prepaid insurance, $450. Debit prepaid insurance and credit insurance expense, $150. Debit insurance expense and credit prepaid insurance, $150

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