(Solution) - The following information is taken from Cruz Company s unadjuste -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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The following information is taken from Cruz Company?s unadjusted and adjusted trial balances.

Given this information, which of the following is likely included among its adjusting entries?
a. A $400 credit to Prepaid Insurance and an $800 debit to Interest Payable.
b. A $400 debit to Insurance Expense and an $800 debit to Interest Payable.
c. A $400 debit to Insurance Expense and an $800 debit to InterestExpense.