When a prepayment is made for an insurance policy, the debit may be made to the Insurance Expense account.

Name: When a prepayment is made for an insurance policy, the debit may be made to the Insurance Expense account.
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When a prepayment is made for an insurance policy, it can initially be debited to the Insurance Expense account, although it's often recorded in a Prepaid Insurance account and then allocated to expense over the coverage period.

When a Prepayment Is Made for an Insurance Policy, the Debit