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Business, 18.07.2020 20:01 Austin4094

The prepaid insurance account had a balance of $10,100 at the beginning of the year. The account was debited for $11,200 for premiums on policies purchased during the year. Journalize the adjusting entry required at the end of the year for each of the following situations: a. The amount of unexpired insurance applicable to future periods is $1,900. b. The amount of insurance expired during the year is $19,400.

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The prepaid insurance account had a balance of $10,100 at the beginning of the year. The account was...
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