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Question 9 (1 point) Oaktron Inc. purchased a 12-month insurance policy on March 1, 2022 for $2,400. At March 31, 2022, the adjusting journal entry

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Question 9 (1 point) Oaktron Inc. purchased a 12-month insurance policy on March 1, 2022 for $2,400. At March 31, 2022, the adjusting journal entry to record expiration of this asset will include: a debit to Prepaid Insurance and a credit to Cash for $2,400 o a debit to Prepaid Insurance and a credit to Insurance Expense for $240 a debit to Insurance Expense and a credit to Prepaid Insurance for $200 a debit to Insurance Expense and a credit to Cash for $200

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