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Snowden Company purchased a 2 year insurance policy on March 31, 2018 for $12,000 and charged the entire amount to Insurance Expense. The adjusting entry

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Snowden Company purchased a 2 year insurance policy on March 31, 2018 for $12,000 and charged the entire amount to Insurance Expense. The adjusting entry on December 31, 2018 will include O A. a credit to Prepaid Insurance for $7,500 OB. a credit to Cash for $4,500 O c. a debit to Insurance Expense for $4,500 OD. a credit to Insurance Expense for $7,500 76

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