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A journal entry to prepay a one-year insurance policy incorrectly debited Insurance Expense. Which of the following items will be part of the entry to
A journal entry to prepay a one-year insurance policy incorrectly debited Insurance Expense. Which of the following items will be part of the entry to reverse the incorrect journal entry?
Select one:
a. credit Prepaid Insurance
b. credit Cash
c. debit Insurance Expense
d. credit Insurance Expense
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