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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 5 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
The following information is taken from Cruz Company’s unadjusted and adjusted trial balances.
|
 |
Unadjusted |
Adjusted |
||
|
 |
Debit |
Credit |
Debit |
Credit |
|
Prepaid insurance |
$4,100 |
 |
$3,700 |
 |
|
Salaries payable |
 |
$ 0 |
 |
$800 |
Given this information, which of the following is likely included among its adjusting entries?
a. A $400 credit to Prepaid Insurance and an $800 debit to Interest Payable.
b. A $400 debit to Insurance Expense and an $800 debit to Interest Payable.
c. A $400 debit to Insurance Expense and an $800 debit to Interest Expense.
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