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Adjustment for Prepaid Expense The prepaid insurance account had a beginning balance of $5.790 and was debited for $2,950 of premiums paid during the year
Adjustment for Prepaid Expense The prepaid insurance account had a beginning balance of $5.790 and was debited for $2,950 of premiums paid during the year Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired Insurance related to future periods is $3,850, an amount box does not require an entry, leave it blank. 88
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