The trial balance for Cheyenne Corp. appears as follows: Cheyenne Corp.
Trial Balance
December 31, 2022
Cash $320
Accounts Receivable 564
Prepaid Insurance 89
Supplies 194
Equipment 4320
Accumulated Depreciation, Equipment $650
Accounts Payable 415
Common Stock 1300
Retained Earnings 1510
Service Revenue 3232
Salaries and Wages Expense 1080
Rent Expense 540
$7107 $7107

If, on December 31, 2022, the insurance still unexpired amounted to $22, the adjusting entry would contain a:

debit to Prepaid Insurance for $22.

debit to Prepaid Insurance for $67.

credit to Prepaid Insurance for $22.

debit to Insurance Expense for $67.