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Woodruff-Simpson Trial Balance June 30 Dr. Cr. Cash 58,000 ccounts Receivable 4,000 Prepaid Insurance (1...

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Woodruff-Simpson Trial Balance June 30 Dr. Cr. Cash 58,000 ccounts Receivable 4,000 Prepaid Insurance (1 year policy) 3,600 Woodruff, Capital 33,100 K. Simpson, Capital 10,000 Woodruff, Drawing 3,600 ccounts Payable 5,500 Unearned Consulting Fees 12,000 Consulting Fees 9,300 Rent Expense 1,000 Insurance Expense 69,900 69,900 Select one: a. After adjusting entries, Insurance Expense will have a debit balance of $300. b. After adjusting entries, Insurance Expense will have a credit balance of $300. c. After adjusting entries, Prepaid Insurance will have a debit balance of $3,600. d. After adjusting entries, Prepaid Insurance will have a credit balance of $3,600

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