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Accounts Receivable has which of the following traits? Asset / Deferral Liability / Accrual O Liability / Deferral Asset / Accrual On October 1, Wilco

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Accounts Receivable has which of the following traits? Asset / Deferral Liability / Accrual O Liability / Deferral Asset / Accrual On October 1, Wilco company pays $2,400 for a year of insurance. The accounting period ends on December 31. What is the insurance expense recognized for that year? 1,200 600 400 O 2,400

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