If you debit Prepaid Insurance,you most likely will:
A)credit Fees Earned.
B)credit capital.
C)credit Insurance Expense.
D)credit Cash.

Name: If you debit Prepaid Insurance,you most likely will: A)credit Fees Earned. B)credit capital. C)credit Insurance Expense. D)credit Cash.
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Question

Quizplus · Accepted Answer

Debiting Prepaid Insurance increases the asset account, indicating payment for insurance in advance, and the corresponding credit would typically be to Cash, reflecting the outflow of cash.

If You Debit Prepaid Insurance,you Most Likely Will