Terry Thomas trial balance Terry Thomas and a group of events incorporated the Gres Thumb Lawn Care Corpo ratione pil. All the trial once shows the following balance for cent Preparace 500 Equipment 2.000 Ny 20.000 Ured Service Revue 4300 Service Revue 1.800 Prepaid insurance is the cost of a 2-2 points year insurance policy, effective April 1. What would be the adjusting entry? Debit Insurance Expense $150, Credit Prepaid Insurance $150 Debit Insurance Expense $1800, Credit Cash $1800 Debit Cash $3600, Credit Prepaid Insurance $3600 Debit Prepaid Insurance $150, Credit Insurance Expense $150 2 points Depreciation on the equipment is $500 per month. What would be the adjusting entry? Debit Equipment Depreciation $500, Credit Depreciation Expense $500 Debit Depreciation Expense $500, Credit Accumulated Depreciation - Equipment