Accounting Entry for Prepaid Insurance?

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please take me through entry process following. a) have bill abc ins. company, i'd pay bill cash account. applied accts payable? b/c bill insurance company. how record part? b) then, i'd increase prepaid insurance asset account. each month understand i'll need credit prepaid insurance , debit insurance exp appropriate amount. i'm having trouble part a). how pay bill, reduce owe insurance company. (1 credit cash/debit accts payable 2. debit prepd ins , credit what?).

thank help.

please take me through entry process following. a) have bill abc ins. company, i'd pay bill cash account. applied accts payable? b/c bill insurance company. how record part? b) then, i'd increase prepaid insurance...


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