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On October 1, 2016, Golde Company paid $18,600 for one year of insurance for the period, October 1, 2016 through September 30, 2017. Which of

On October 1, 2016, Golde Company paid $18,600 for one year of insurance for the period, October 1, 2016 through September 30, 2017. Which of the following will be part of the adjusting entry on December 31, 2016?

Debit Prepaid Insurance for $13,950

Debit Insurance Expense for $4650

Debit Prepaid Insurance for $4650

Debit Insurance Expense for $13,950

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