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Which of the following is the correct journal entry to record one month of expired prepaid insurance? Select one: a. Increase insurance expense and decrease

Which of the following is the correct journal entry to record one month of expired prepaid insurance?

Select one:

a. Increase insurance expense and decrease cash

b. Increase prepaid insurance and decrease cash

c. Increase insurance expense and decrease prepaid insurance

d. Increase prepaid insurance and decrease insurance expense

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