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The entry to close the appropriate insurance account at the end of the accounting period is to debit: A) Income Summary; credit Prepaid Insurance. B)

The entry to close the appropriate insurance account at the end of the accounting period is to debit: A) Income Summary; credit Prepaid Insurance. B) Prepaid Insurance; credit Income Summary. C) Income Summary; credit Insurance Expense. D) Insurance Expense; credit Income Summary. C is my option

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