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Company C purchase a two year insurance policy from Company S amounting to 240,000 on June 1, 2018. Record the entries to adjust the expense

Company C purchase a two year insurance policy from Company S amounting to 240,000 on June 1, 2018.

Record the entries to adjust the expense as of December 31 2018,2019,2020 for Company C

Record the entries to adjust the revenue as of December 31 2018,2019,2020 for Company S

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