Question 8 Gibson Company paid $12.000 on June 1, 2014 for a two year insurance policy. The December 31, 2014 adjusting entry is O Debit Insurance Expense and credit Prepaid Insurance 53,500. Debit Insurance Expense and credit Prepaid Insurance, $7,000. O Debit Prepaid Insurance and credit Insurance Expense. $3,500 Debit Prepaid Insurance and credit Insurance Expense, 57,000. Question 9 Which of the following is a liability? O Buildings Retained earnings O Prepaid property taxes Accounts payable Question 10 2 point Compute Earned Capital, Common Stock Additional Paid In Capital Preferred Stocks Treasury Stocks Retained Earnings Accumulated Other Comprehensive Income $351 $379 $242 $517 $1.975 $1,341 455 @ 1.489 634 3.316