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I am having to do a worksheet, I understand how to do them when simple, but when they have multiple entries not sure. Question 1
I am having to do a worksheet, I understand how to do them when simple, but when they have multiple entries not sure. Question 1 for adjusting entries is
1 | The balance in the Prepaid Insurance account contains the premium costs of three policies: |
Policy 1, remaining cost of $2,550, 1-yr. term, taken out on May 1, 2013; | |
Policy 2, original cost of $9,000, 3-yr. term, taken out on Oct. 1, 2014; | |
Policy 3, original cost of $1,300, 1-yr. term, taken out on Jan. 1, 2014. |
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