Business, 20.08.2021 02:50 drodriguez2324

Lenten Company paid $1,200 for insurance coverage for the next year. Show how this transaction should be entered into T-accounts of Lenten Company, by selecting the correct answer below. a. Place $1,200 on the left side of the Prepaid Insurance account; place $1,200 on the right side of the Cash account.
b. Place $1,200 on the left side of the Cash account; place $1,200 on the right side of the Prepaid Insurance account.
c. Place $1,200 on the left side of the Cash account; place $1,200 on the right side of the Insurance Expense account.
d. Place $1,200 on the right side of the Cash account; place $1,200 on the left side of the Insurance Expense account.

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Lenten Company paid $1,200 for insurance coverage for the next year. Show how this transaction shoul...

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