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At November 30 2019 before end year adjustments my account showed the following: Insurance expense had a normal balance of $3800 The prepaid insurance account
At November 30 2019 before end year adjustments my account showed the following: Insurance expense had a normal balance of $3800 The prepaid insurance account had a normal balance of $1450 It is revealed that only $3000 of benefits from insurance were realized in the year ending November 30. Ignore GST
The adjusting journal entry will be:
a) debit prepaid insurance 800
b) credit prepaid insurance 1450
c)debit insurance expense 3000
d) credit repaid insurance 800
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