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Bank paid $2,400 for one - year fire insurance Policy. The Proper Journal Entry for this transaction is O a. Dr. Insurance Expense $2,400, Cr.
Bank paid $2,400 for one - year fire insurance Policy. The Proper Journal Entry for this transaction is
O a.
Dr. Insurance Expense $2,400, Cr. Cash $2,400.
O b.
Dr. Insurance Expense $1,200, Cr. Cash $1,200.
O C.
None of the above is correct.
d. Dr. Cash $2,400, Cr. Unearned Service Revenue $2,400.
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International Accounting
Authors: Frederick D. Choi, Gary K. Meek
7th Edition
978-0136111474, 0136111475
