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On 12/31/24 the Cheboygan Company paid 52,000 of prepaid insurance and expensed the entire amourit. The policy covered the period 1/1/25 to 12/31/25. The error
On 12/31/24 the Cheboygan Company paid 52,000 of prepaid insurance and expensed the entire amourit. The policy covered the period 1/1/25 to 12/31/25. The error was discopored on 3/10/26 the 2025 books are stis open, the correctung journal entry will include what entry to t/ings Retained Eamings? Select one. 3. \$1,000 debit b 31,000 credit c. $2.000 debit d. $2000 oedin
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