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On December 31, 2019. Avery Corporation paid $10,000 for next year's insurance policy. This transaction should be recorded as follows by Avery: 10,000 Prepaid insurance

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On December 31, 2019. Avery Corporation paid $10,000 for next year's insurance policy. This transaction should be recorded as follows by Avery: 10,000 Prepaid insurance Insurance payable 10,000 10,000 O Prepaid insurance Cash 10.000 10,000 Insurance expense Insurance payable 10,000 10,000 Insurance expense 10,000 Cash

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