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On March 31, FeelGood Company paid $5,200 for a 1-year insurance policy. To record this...

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Accounting

On March 31, FeelGood Company paid $5,200 for a 1-year insurance policy. To record this transaction FeelGood Company should
Question 1 options:
decrease Cash and increase Accounts Payable.
decrease Cash and increase Insurance Expense.
decrease Cash and increase Prepaid Insurance.
increase Cash and increase Prepaid Expense.

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