Transferring entries from the general journal to the general ledger is called $($posting$/$preparing$/$journalizing$)$

Which of the following statements is correct about prepaid expenses?

Prepaid expenses are also called prepaid accounts and are considered assets.

Prepaid expenses are current expense accounts and are reported on the income statement.

Prepaid expenses are another name for accounts receivable and are reported as an asset.

Prepaid expenses are also called prepaid liabilities and are classified as liabilities.