During the month of July, the employees of Fishing Inc. earned $30,000. Employees are paid once a month (they normally get paid a few days after the end of the month). On July 31St, Fishing Inc. should make which of the following journal entries? Debit Wages Expense for $30,000/ Credit Accounts Payable for $30,000 Debit Wages Expense for $30,000/Credit Wages Payable for $30,000 Debit Wages Payable for $30,000/Credit Wages Expense for $30,000 Debit Wages Payable for $30,000/Credit Accounts Payable for $30,000 On October 1, Rex Inc. purchased $1,200 of auto insurance (good for 6 months). On October 15t, Rex Inc. should record which of the following journal entries? Debit Prepaid Insurance for $1,200/ Credit Cash for $1,200 Debit Insurance Expense for $1,200 / Credit Cash for $1,200 Debit Prepaid Insurance Revenue for $1,200/ Credit Cash for $1,200 Debit Cash for $1,200/ Credit Insurance Expense for $1,200 On October 315t, Rex Inc. should make which of the following adjusting journal entries? Debit Prepaid Insurance for $1,000/ Credit Insurance Premium for $1,000 Debit Insurance Expense for $1,000 / Credit Insurance Premium for $1,000 Debit Prepaid Insurance for $200/ Credit Insurance Expense for $200 Debit Insurance Expense for $200/ Credit Prepaid Insurance for $200