Question: Question 1 4 pts What is the proper adjusting entry at June 30, the end of the fiscal year, based on a prepaid insurance

Question 1 4 pts What is the proper adjusting entry at June

Question 1 4 pts What is the proper adjusting entry at June 30, the end of the fiscal year, based on a prepaid insurance account balance before adjustment, $12,500, and unexpired amounts per analysis of policies, $4,500? debit Insurance Expense, $11,000; credit Prepaid Insurance, $11,000 debit Insurance Expense, $4,500; credit Prepaid Insurance, $4,500 debit Insurance Expense, $8,000; credit Prepaid Insurance, $8,000 debit Prepaid Insurance, $11,500; credit Insurance Expense, $11,500

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