On July 1, 2008, Blair Co. pays $18,000 to Hindi Insurance Company for a 3-year insurance contract.
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On July 1, 2008, Blair Co. pays $18,000 to Hindi Insurance Company for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Blair Co. journalize the entry on July 1 and the adjusting entry on December 31.
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In the books of Blair Co JOURNAL ENTRIES DATE PARTICULARS LF DEBIT CREDIT 2008 July 1 Insurance Account Dr To Cash Bank Account Being Insurance Amount ...View the full answer
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Related Book For 
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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