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On June 30 of the current calendar year. Apricot Co, paid $8,600 cash for management services to be performed over a two-year period. Apricot follows

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On June 30 of the current calendar year. Apricot Co, paid $8,600 cash for management services to be performed over a two-year period. Apricot follows a policy of recording all prepaid expenses to expense accounts at the time of cash payment. The adjusting entry on December 31 for Apricot would include: O A debit to an expense for $2,150. A credit to a liability for $2,150. A debit to an expense for $6,450. A debit to prepayments for $2,150. A debit to prepayments for $6,450

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