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The entry to close a debit in the appropriate insurance account at the end of the accounting period is a . debit Insurance Expense; credit
The entry to close a debit in the appropriate insurance account at the end of the accounting period is
a debit Insurance Expense; credit Owner's Capital
b debit Owner's Capital; credit Prepaid Insurance
c debit Prepaid Insurance; credit Owner's Capital
d debit Owner's Capital; credit Insurance Expense
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Survey of Accounting
Authors: Carl S Warren
6th edition
978-113318912, 1133189121, 978-1133189121
