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4 . Assume that the prepaid insurance account has an $ 8 4 7 debit balance at the end of an accounting period before the
Assume that the prepaid insurance account has an $ debit balance at the end of an
accounting period before the adjustment for insurance expired and give the required yearend
adjusting entry under each of the following unrelated assumptions:
a An examination of insurance policies shows $ of insurance expired.
b An examination of policies shows $ of unexpired insurance.
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