s 1.2,3 Saved Assume that $18,800 cash is paid for insurance to cover the next year. The appropriate debit and credit would be: Multiple Choice Debit Insurance Expense $18.800, credit Prepaid Insurance $18.800. Debit Prepold Insurance $18.800 credit Cash $18,800 Debit Prepaid Insurance $18.800 credit insurance Expense $18.800 Debit Cash $18.800, credit Prepaid Insurance $18.800