The entry to close the appropriate insurance account at the end of the accounting period is
A) debit Owner's Capital; credit Prepaid Insurance
B) debit Prepaid Insurance; credit Owner's Capital
C) debit Insurance Expense; credit Owner's Capital
D) debit Owner's Capital; credit Insurance Expense

Question

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The Answer of The entry to close the appropriate insurance account at the end of the accounting period is
A) debit Owner's Capital; credit Prepaid Insurance
B) debit Prepaid Insurance; credit Owner's Capital
C) debit Insurance Expense; credit Owner's Capital
D) debit Owner's Capital; credit Insurance Expense

The Entry to Close the Appropriate Insurance Account at the End