insurance expense on the income statement for the period ending 12/31/2020. Oc. Electricity and water expenses are recognized as expenses in 2020 even though the last bill relating to utilities used in 2020 will not be received until January 2021. d. Depreciation expense is recognized in 2020 on a building purchased two years ago (i.e., in 2018). Question 23 3.9 pts Which of the following groups of accounts must begin each accounting period with a zero balance? O a. dividends, sales revenue, cash O b. rent expense, unearned revenue, dividends O c. prepaid rent, sales revenue O d. dividends, rent expense, sales revenue O e. accounts receivable, dividends, rent expense