On December 31, 2014, Avery Corporation paid $27,000 for next year’s insurance policy. This transaction should be recorded as follows by Avery: Is it A,B, C or D?General JournalDebitCreditA. Insurance expense27,000 Insurance payable27,000 B. Prepaid insurance27,000 Insurance payable27,000 C. Prepaid insurance27,000 Cash27,000 D. Insurance expense27,000 Cash27,000 rev: 04_17_2015_QC_CS-13869
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