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accounting question Gizmo Inc. purchased a one-year insurance policy on October 1 for $2,880. The adjusting entry on December 31 would be: (If an amount

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Gizmo Inc. purchased a one-year insurance policy on October 1 for $2,880. The adjusting entry on December 31 would be: (If an amount box does not require an entry, leave it blank.) Dec. 31

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