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Huntley Company Paid $52,800 for a Four-Year Insurance Policy on September

Question 21

Multiple Choice

Huntley Company paid $52,800 for a four-year insurance policy on September 1 and recorded the $52,800 as a debit to Prepaid Insurance and a credit to Cash.
What adjusting entry should Huntley make on December 31, the end of the accounting period (no previous adjustment has been made) ?


A) Huntley Company paid $52,800 for a four-year insurance policy on September 1 and recorded the $52,800 as a debit to Prepaid Insurance and a credit to Cash. What adjusting entry should Huntley make on December 31, the end of the accounting period (no previous adjustment has been made) ? A) B) C) D)
B) Huntley Company paid $52,800 for a four-year insurance policy on September 1 and recorded the $52,800 as a debit to Prepaid Insurance and a credit to Cash. What adjusting entry should Huntley make on December 31, the end of the accounting period (no previous adjustment has been made) ? A) B) C) D)
C) Huntley Company paid $52,800 for a four-year insurance policy on September 1 and recorded the $52,800 as a debit to Prepaid Insurance and a credit to Cash. What adjusting entry should Huntley make on December 31, the end of the accounting period (no previous adjustment has been made) ? A) B) C) D)
D) Huntley Company paid $52,800 for a four-year insurance policy on September 1 and recorded the $52,800 as a debit to Prepaid Insurance and a credit to Cash. What adjusting entry should Huntley make on December 31, the end of the accounting period (no previous adjustment has been made) ? A) B) C) D)

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