Business, 27.09.2019 20:30, julianjacobg126

Acompany paid $1500 cash for an insurance policy providing flood protection for a three-year period. this transaction should be recorded by which of the following entries:

a. $1500 debit to accrued expense and a $1500 credit to cash.

b. $1500 debit to unexpired insurance and a $1500 credit to cash.

c. $1500 debit to withdrawals and a $1500 credit to cash.

d. 1500 debit to accounts payable and a $1500 credit to cash.

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Acompany paid $1500 cash for an insurance policy providing flood protection for a three-year period....