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A company shows an $4,000 balance in Prepaid Insurance in the Unadjusted Trial Balance columns of the work sheet. The Adjustments columns show expired insurance
A company shows an $4,000 balance in Prepaid Insurance in the Unadjusted Trial Balance columns of the work sheet. The Adjustments columns show expired insurance of $1,200. This adjusting entry results in * O $1,200 more profit O $1,200 less profit $2,800 difference between the debit and credit columns of the unadjusted trial balance O $1,000 in the Income Statement Debit column on the work sheet O $1,000 in the Balance Sheet Credit column on the work sheet
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