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Ahmad company Purchased a 1-year insurance policy on January 1 for $150,000. The adjusting entry that should be recorded on 31 January is Dr. Insurance

Ahmad company Purchased a 1-year insurance policy on January 1 for $150,000. The adjusting entry that should be recorded on 31 January is Dr. Insurance Expense 12,500 Cr. Prepaid insurance 12500 AO Dr. Prepaid Insurance 12500 Cr. Insurance Expense 12.500.B Dr. Insurance Expense 12.500 Cr. cash 12500.CO None of the above .DO

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