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A company had prepaid insurance with debited during the year for $6,000 of premium the amount of unexpired prepaid insurance (what shou the year (12/31/20x5)
A company had prepaid insurance with debited during the year for $6,000 of premium the amount of unexpired prepaid insurance (what shou the year (12/31/20x5) is $5,500.(4.85 Points) palance of $5,000, and the account was emiums paid. Journalize the adjusting entry, assuming that should be left in the account) at the end of Credit Debit Date Account/Description Hlustrate how the above entry will affect the accounting equation (both amount and direction): Owner's Equity Liabilities Assets Page 8
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