please answer accurate please explain why the option is correct and remaining incorrect Which of the following is a correct adjusting entry for prepayments under Expense Method?A Debit - Liability account; Credit - Revenue accountDebit - Expense account; Credit - Prepaid Expense accountDebit - Prepaid Expense account; Credit - Expense accountD Debit - Revenue account; Credit - Liability accountQuestion 28Which is an incorrect adjusting entry?Debit - Depreciation Expense and Credit - Accumulated DepreciationB Debit - Prepaid Insurance and Credit - Insurance Expense using the income statement approachDebit - Interest Expense and Credit - Interest PayableDebit - Rent Collected in Advance and Credit - Rent Revenue using the income statement approach

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Which of the following is a correct adjusting entry for prepayments under Expense Method? A Debit - Liability account; Credit - Revenue account B Debit - Expense account; Credit - Prepaid Expense account Debit - Prepaid Expense account; Credit - Expense account Debit - Revenue account; Credit - Liability account