D) None of these choices rCiandise sold 4. On November 1, Fitz Company paid $3,600 to renew its insurance policy for 3 years. The adjusting entry required for insurance expense on December 31 iss A) Debit - Insurance Expense $1,200 B) Debit - Prepaid Insurance $3,600 C) Debit -Insurance Expense $200 D) Debit- Prepaid Insurance $3,600 Credit- Prepaid Insurance $1,200 Credit-Insurance Expense $3,600 Credit - Prepaid Insurance $200 Credit - Cash $3,600 5. A. Larsen had a total $5,200 in his drawings account at the end of the year. The entry required to close the drawings account includes a: A) Debit to A. Larsen, Drawing $5,200 B) Debit to A. Larsen, Capital $5,200 C) Credit to Cash, $5,200 D) Credit to A. Larsen, Capital S5,200 6. If total liabilities decreased by $46,000 during a period of time and owner's equity increased by S60,000 during the same period, the amount and direction (increase or decrease) of the period's change in total assets would be a: A) $106,000 increase B) $14,000 increase C) $14,000 decrease D) $106,000 decrease