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Hard Supplies Inc. purchased a 12-month insurance policy on March 1, 2010 for $900. At March 31, 2010, the adjusting journal entry to record
Hard Supplies Inc. purchased a 12-month insurance policy on March 1, 2010 for $900. At March 31, 2010, the adjusting journal entry to record expiration of this asset will include a O a. debit to Insurance Expense and a credit to Cash for $75. O b. debit to Insurance Expense and a credit to Prepaid Insurance for $75 Oc. debit to Prepaid Insurance and a credit to Cash for $900. O d. debit to Prepaid Insurance and a credit to Insurance Expense for $100
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