On July 31, 2020, Magnus's Muffins paid ($ 18,000) for business insurance for the next year. Record
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On July 31, 2020, Magnus's Muffins paid \(\$ 18,000\) for business insurance for the next year. Record the entries for the purchase of the insurance by recording it as an expense and then making a year-end entry on December 31, 2020, to adjust the accounts.
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Related Book For
Horngrens Accounting Volume 1
ISBN: 9780135359709
11th Canadian Edition
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood
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