Brief item decscription
Step-by-step solution file
On April 1, 2013, the company paid $2280 for a two-year fire and
On April 1, 2013, the company paid $2280 for a two-year fire and liability insurance policy and debited insurance expense.
I don't understand how the answers are debit: prepaid insurance 1425 and credit: insurance expense 1425.
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