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The entry to close the appropriate insurance account at the end of the accounting period is a.debit Income Summary; credit Prepaid Insurance b.debit...

The entry to close the appropriate insurance account at the end of the accounting period is
a.debit Income Summary; credit Prepaid Insurance
b.debit Prepaid Insurance; credit Income Summary
c.debit Insurance Expense; credit Income Summary
d.debit Income Summary; credit Insurance Expense

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558980_ACC.doc

The entry to close the appropriate insurance account at the end of the accounting period is
a.debit Income Summary; credit Prepaid Insurance
b.debit Prepaid Insurance; credit Income Summary
c.debit...

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