incorrect Question 8 0/0.5 pts Sandy Company purchases a three-year insurance policy on May 1 for $3,600. The adjusting entry on December 31 is debit Insurance Expense $900; credit Prepaid Insurance $900 none of the above debit Insurance Expense, $2400, credit Prepaid Insurance, $2400 debit Insurance Expense, $2100; credit Prepaid Insurance $2100 orrect Question 9 0/0.5 pts On December 1, the company received a $8,400 advance payment on services to be performed for one year. The services began immediately. The adjusting entry on December 31 needed for this event would include a: debit to Uneraned Fees $700 none of the above credit to Unearned Fees for $1400 debit to Fees Earned for $8400