Question
E1.9 A restaurant paid $9,120 cash in advance for liability and casualty insurance for two years of coverage: a. Journalize the transaction for the payment.
E1.9 A restaurant paid $9,120 cash in advance for liability and casualty insurance for two years of coverage: a. Journalize the transaction for the payment. Account Title Debit Credit b. What is the amount of insurance expense for one year and one month? c. Record the journal entry for six months of insurance expense. Account Title Debit Cred
E1.13 A restaurant paid $9,600 cash in advance for liability and casualty insurance for two years of coverage: a. Journalize the transaction for the payment. Account Title Debit Credit b. What is the amount of insurance expense for one year and one month? c. Record the journal entry for six months of insurance expense. Account Title Debit Credit E1.10 Referring to the journal entries you completed for E1.9, (a) and (c), name and post the journal entries using modified T account format as shown below. Name: Cash Debit Credit Balance (Beginning $18,400 Balance) Name: Debit Credit Balance (Beginning $ -0- Balance) Name: Debit Credit Balance (Beginning $ -0- Balance)
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