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What type of account is Prepaid Insurance? Your choices areasset, contra asset, liability, stockholder's equity, contrastockholder's equity, revenue, or expense. 2. What is the normalbalance

What type of account is Prepaid Insurance? Your choices areasset, contra asset, liability, stockholder's equity, contrastockholder's equity, revenue, or expense. 2. What is the normalbalance of prepaid insurance? Your choices are Debit or Credit. 3.Which financial statement does prepaid insurance appear on? Yourchoices are Income Statement, Statement of Retained Earnings, orBalance Sheet.

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