b. Prepaid insuranco, The Piepaid insurance account has a 97,300 debit balance at the start of the year, A reviow of insurance policies ehows 11,640 of insurance has erplred by yearend c. Prepaid Rent On September 1 of the current year, the company prepaid 542.000 for two years of rent for tacitities being c. Prepaid Rent On September 1 of the current year, ve company prepaid $42,000 for oscupled that day. The company debited Propaid Rent and credited Cast for 542,000