0 minutes -21 MC and 4 problems Saved Help Save & A company pays $20,000 to purchase a one year insurance policy Record the transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 114 A company pays $20,000 to purchase a one-year insurance policy nces Note: Enter debits before credits. Transaction General Journal Debit Credit K Prev 22 of 25 Next