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Miro Inc. purchased a 1 year insurance policy for $4.320 on November 1.2015 with coverage starting on that date. A) What entry is made on

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Miro Inc. purchased a 1 year insurance policy for $4.320 on November 1.2015 with coverage starting on that date. A) What entry is made on 11/1/15? Dr Prepaid Insurance Cr Cash 4320 4320 B) What adjusting entry is to be made on 12/31/152 720 repaid Insurance C) What is the balance in the prepaid insurance after the adjusting entry is made? 3600 4 of5 Attempts Used

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