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Arnez Companys annual accounting period ends on December 31, 2017. The following information concerns the adjusting entries to be recorded as of that date. An
Arnez Companys annual accounting period ends on December 31, 2017. The following information concerns the adjusting entries to be recorded as of that date.
- An analysis of the company's insurance policies provided the following facts.
| Policy | Date of Purchase | Months of Coverage | Cost | |
| A | April 1, 2015 | 24 | $ | 11,832 |
| B | April 1, 2016 | 36 | 10,584 | |
| C | August 1, 2017 | 12 | 9,432 | |
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