On February 28,AppGame paid for a one-year insurance policy that begins March 1.AppGame Company's entry to record this transaction includes a:
A) Prepaid Insurance.
B) debit to Cash.
C) debit to Insurance.
D) credit to paid Insurance.

Question

Quizplus · Accepted Answer

AppGame would record a debit to Prepaid Insurance to reflect the asset created by paying for the insurance policy in advance.

On February 28,AppGame Paid for a One-Year Insurance Policy That