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A one year insurance policy was purchased on July 1, 2022 for $15,000. The company debited insurance expense for the entire amount. Prepare the

A one year insurance policy was purchased on July 1, 2022 for $15,000. The company debited insurance expense for the entire amount. Prepare the necessary adjusting entry required before issuing financial statements as of December 31, 2022. A BI Account Debit Credit

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