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need answer asap!! The prepaid insurance account had a beginning balance of $8,410 and was debited for $550 for premiums paid during the year. Journalize

need answer asap!! image text in transcribed
The prepaid insurance account had a beginning balance of $8,410 and was debited for $550 for premiums paid during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of unexpired insurance related to future periods is $6,080 Dec. 31

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