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1. The firm paid a $2,340 premium for a 3-year insurance policy, coverage to being October 1. The premium payment was debited to Insurance Expense.

1. The firm paid a $2,340 premium for a 3-year insurance policy, coverage to being October 1. The premium payment was debited to Insurance Expense. 2. Weeky wages for a 5-day work week total $1,225, payable on Fridays. December 31 is Thursday

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