Use this information to answer the following question. The trial balance for Nowwick Company appears as follows:

-If on December 31,2014,the insurance still unexpired amounted to $20,the adjusting entry would contain a
A)debit to Prepaid Insurance for $80.
B)credit to Prepaid Insurance for $80
C)debit to Insurance Expense for $20.
D)credit to Prepaid Insurance for $20.

Question

Use this information to answer the following question. The trial balance for Nowwick Company appears as follows:

-If on December 31,2014,the insurance still unexpired amounted to $20,the adjusting entry would contain a
A)debit to Prepaid Insurance for $80. 
B)credit to Prepaid Insurance for $80 
C)debit to Insurance Expense for $20. 
D)credit to Prepaid Insurance for $20.

Quizplus · Accepted Answer

The Answer of Use this information to answer the following question. The trial balance for Nowwick Company appears as follows:

-If on December 31,2014,the insurance still unexpired amounted to $20,the adjusting entry would contain a
A)debit to Prepaid Insurance for $80. 
B)credit to Prepaid Insurance for $80 
C)debit to Insurance Expense for $20. 
D)credit to Prepaid Insurance for $20.

Use This Information to Answer the Following Question