On 1 September Year 1, a company paid 1,800 as an insurance premium to give accident cover
Question:
On 1 September Year 1, a company paid £1,800 as an insurance premium to give accident cover for the 12 months ahead. The accounting year-end is 31 December.
Required:
Prepare an accounting equation spreadsheet to show the effect of the prepayment in the year ended 31 December Year 1.
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