Question 1.16 The entry to close the appropriate insurance account at the end of the accounting period is: 2 points O debit Prepaid Insurance; credit Owner's Capital. O debit Owner's Capital, credit Insurance Expense O debit Owneris Capital, credit Prepaid Insurance. O debit Insurance Expense; credit Owner's Capital 2. Multiple Choice Question 2.1 a. Dec. 31 Fees Eamed 2 points 750 175 Rent Revenue Owner's Capital 925 b. Dec. 31 Owner's Capital 925 Fees Eamed Rent Revenue 750 175 c. Dec. 31 Revenues 925 Owner's Capital 925 d. Dec. 31 Owner's Capital Revenues 925 925 In the picture above, the journal entry to close Fees Earned, $750, and Rent Revenue, $175, during the yearend closing process would be either a, b, c, or d. o d C