B9.5 On 1 December Year 1 a company paid 2,400 as an insurance premium to give accident
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B9.5 On 1 December Year 1 a company paid £2,400 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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