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Which of the following will properly record the payment of a two-year insurance policy? Select one: a. Decrease assets and decrease liabilities b. Increase liabilities

Which of the following will properly record the payment of a two-year insurance policy?

Select one:

a. Decrease assets and decrease liabilities

b. Increase liabilities and decrease retained earnings

c. Increase and decrease assets

d. Increase assets and increase retained earnings

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