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On May 7, 2025, Acme Enterprises paid the current month's insurance premium. The entry to record this transaction will include a debit to Prepaid Insurance

On May 7, 2025, Acme Enterprises paid the current month's insurance premium. The entry to record this transaction will include a debit to Prepaid Insurance and a credit to Accounts Payable. O a debit to Insurance Expense and a credit to Accounts Payable. a debit to Cash and a credit to Prepaid Insurance. O a debit to Insurance Expense and a credit to Cash

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