Question: When a prepaid expense initially recorded as an asset is incurred, the adjusting entry includes...... Answers: 1) A debit to an asset 2) A credit

When a prepaid expense initially recorded as an asset is incurred, the adjusting entry includes......

Answers:

1) A debit to an asset

2) A credit to a liability

3) A credit to an expense

4) A debit to an expense

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