The prepaid insurance account has a debit balance of $3600 at the end of the y

The prepaid insurance account has a debit balance of $3600
at the end of the year. If unexpired insurance at the end
of the year is $2800, the amount of insurance expense that
should be reported on the income statement is?

Question Posted / prisgon1974

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The prepaid insurance account has a debit balance of $3600 at the end of the year. If unexpired in..

Answer / shi

Insurance Exp. $800 DR
Prepaid Insurance $800 CR

Is This Answer Correct ?

10 Yes

1 No

The prepaid insurance account has a debit balance of $3600 at the end of the year. If unexpired in..

Answer / prabu

Pre paid Insurance : 3600
Unexpired insurance: 2800
total : 6400

Is This Answer Correct ?

4 Yes

9 No

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