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Ming Chen started a business and had the following transaction in July. The company paid $5,600 for a 12-month insurance policy on July 1 and
Ming Chen started a business and had the following transaction in July. The company paid $5,600 for a 12-month insurance policy on July 1 and debited the amount to prepaid insurance. Ming Chen uses an annual accounting period adjusting at the end of the year. Choose the correct adjusting journal entry Ming Chen made at the end of the period on 12/31
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
