Debit & Credit for Prepaid Expenses

Q.

When insurance for next one year is paid in this month only, which account shall be debited?

1. Insurance account

2. Cash account

3. Prepaid insurance account

4. None of these

Q. When rent of the next six months is paid in the current month only, account is debited.

1. Rent
2. Prepaid rent
3. Outstanding rent
4. Cash