Assume that 17,300 cash is paid for insurance to cover the next year. The appropriate debit and credit are:
A• Debit prepaid insurance 17,300, credit insurance expense 17,300.
B• Debit cash 17,300, credit prepaid insurance 517.300
C• Debit prepaid insurance 517,300, credit cash 17.300
D• Debit insurance expense 17.300, credt prepaid insurance 17.300