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Find the change in account balances of the two accounts

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Problem 1: Prepaid insurance accounts had a beginning balance of P45,000. At the end of the accounting period, it had a balance of P7,500. Accumulated depreciation had a balance beginning balance of P30,000 and an end of the period balance of P45,000. The change in account balances of these two accounts resulted in total expenses changing by

Option 1: increase of P100,000
Option 2: decrease of P100,000
Option 3: decrease of P52,500
Option 4: increase of P52,500

Reference no: EM132820146

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